Multinationals in particular hiked prices far above rise in costs to deliver an outsize impact on cost of living crisis, report concludes

  • girlfreddy@sh.itjust.works
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    1 year ago

    We all knew that. Too bad the Federal Reserve and Bank of Canada ignored every sign pointing to greedy companies causing inflation and instead nailed us to the wall.

    • Drusas@kbin.social
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      1 year ago

      They exist to support the rich. Low unemployment rates hurt the rich, so they retaliate by raising prices, making people poorer and more desperate and less able to dictate the conditions of their employment. And here we are.

    • Lyrl@lemm.ee
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      1 year ago

      I work for a manufacturing company, and during the demand boom our customers wanted way more product than our facilities are physically capable of producing. I suppose sales could have complexified and ratcheted up our existing rationing process (have to have one at some level when it takes months to produce an order), but raising prices made demand go down so it matched our actual ability to make stuff.

      Given the wild increase in demand beyond the infrastructure capabilities, the only alternative to inflation was rationing, and I do not have enthusiasm for ration lines.

      • jasory@programming.dev
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        1 year ago

        Price hikes in a manufacturing context are simply rationing with extra profits, atleast until you build out greater capacity.