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Greedflation: corporate profiteering ‘significantly’ boosted global prices, study shows
(www.theguardian.com)
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this post was submitted on 09 Dec 2023
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Chiming in from Australia, our two main supermarket chains (practically a combined monopoly) turned bumper profits over the last year while inflation has been out of control.
The only good news is one of the minor political parties is trying to push an inquiry into how they managed to make significantly higher than usual profits whilst customers are buying only the absolute essentials and farmers are saying that the price they get for groceries & meat hasnt gone up. However it is a minor party with some power, but not enough to force anything to happen without support from a major party and/or a lot of independants, so we will see how that goes
I feel like what happens in both Canada and Australia are like mirror reflections. Except you have a season where everything carries la catches on fire while ours everything freezes over.