Mastodon Feed
Reblogged by pzmyers@octodon.social ("pzmyers 🦑"):
rbreich@masto.ai ("Robert Reich") wrote:
The price of Huggies diapers went up 6% between April- June 2023.
Inflation, right? Wrong.
Kimberly-Clark, the maker of Huggies, reported that the cost to make its products fell by $75 million.They took the money and ran, banking $168 million in operating profits in Q3 2023.
Now, new research shows that corporate profits drove 53% of inflation during the 2nd and 3rd quarters of 2023. During the 40 years prior to the pandemic, profits drove just 11% of price growth.