Revealed: top US corporations raising prices on Americans even as profits surge
by Tom Perkins from on (#5YKED)
A Guardian analysis uncovers how companies enriched themselves and their investors while boasting about jacking up prices
As inflation shot to a new peak in March, cost increases exacted a deep toll on the economy, eating into most Americans' wages and further imperiling the financially vulnerable. But for many of the US's largest companies and their shareholders it has been a very different story.
One widely accepted narrative holds that companies and consumers are sharing in inflationary pain, but a Guardian analysis of top corporations' financials and earnings calls reveals most are enjoying profit increases even as they pass on costs to customers, many of whom are struggling to afford gas, food, clothing, housing and other basics.
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