A new report examining the causes of inflation demonstrates that corporate greed and increased CEO pay led to higher-than-necessary costs for American consumers in recent months.

The report, from the progressive organization Groundwork Collaborative, found that, in the past two economic quarters alone, 53 cents out of every dollar of inflationary price increases were due to corporate profits.

Since the start of the pandemic, corporate greed and profits accounted for close to one-third of all inflation, the group discovered — resulting in a phenomenon that is oftentimes called “greedflation.”

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