Inflation fell to its lowest annual rate in more than two years during June, the product both of some deceleration in costs and easy comparisons against a time when price increases were running at a more than 40-year high.
Inflation fell to its lowest annual rate in more than two years during June, the product both of some deceleration in costs and easy comparisons against a time when price increases were running at a more than 40-year high.
That study shows the opposite of what you’re claiming.
Sorry about that. I’m traveling and only on mobile. I had heard it on Planet Money and assumed they would link it and they apparently linked a very short paper that does not show it.
Here is a paper from the Kansas City Fed that shows increased profit margins made up over 50% of the price increases:
https://www.kansascityfed.org/Economic Review/documents/9329/EconomicReviewV108N1GloverMustredelRiovonEndeBecker.pdf
The EPI also wrote on it but they are left biased so I would put a little less stock in it:
https://www.epi.org/blog/corporate-profits-have-contributed-disproportionately-to-inflation-how-should-policymakers-respond/