Facts over Fear: Greedflation

Produced By: - November 25, 2023 8:25 am
“Greedflation” refers to when companies take advantage of inflation to raise prices, boost their profit margins and pocket the earnings.

U.S. Sen. Bob Casey (D-Pa) has put out another one of his “greedflation” reports. He’s calling this one, “Stuffing Their Pockets.”

Let’s feast on a few highlights:

Potatoes are an inexpensive staple for many families.
Potato prices have gone up more than 60% while the net income for the country’s largest frozen potato provider is up more than 110%.

What about chicken?

Americans pay 35% more for a pound of chicken than they did just three years ago… even though it is cheaper for companies to feed their chickens because the price of corn, one of the most common ingredients in chicken feed, is at the lowest levels for the same time period.

If it’s cheaper to feed the chickens, why are prices going up?
If potatoes are more expensive to buy, but the companies that produce them are getting richer, what’s happening?

“Greedflation” is what’s happening. And it’s time for it to stop.

Higher prices should not mean higher profits.
Companies should not be earning billions while consumers struggle to put food on the table.

On Thanksgiving and on the other 364 days of the year.
And that, my friends, is a fact.

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Natalie Bencivenga
Natalie Bencivenga

Natalie Bencivenga is a socially conscious journalist and hosts a weekly show on KDKA radio in Pittsburgh. Follow her on Instagram at NatalieBencivenga.

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