For 3 1/2 years now the left have been referring to inflation as being due to any number of reasons.
1. It's Trump's fault
2. There is no inflation, inflation was just transitory
3. The pandemic caused supply chain issues
4. The war in Ukraine caused inflation
5. The Middle East conflict has caused inflation
6. It's Climate Change
But now, all of a sudden, inflation wasn't due to any of those issues. Inflation is all price gauging by greedy companies.
So, lefties, which one is it?
Enough of the lefty crap.
Corporate4 profits have been skyrocketing since companies have raised prices. Corporate financial statements prove that companies are raising prices because they want to not because they have to. If companies were raising prices to cover increased costs then their profits would be relatively stable.
A second reason is that we are seeing more oligopolies. This means less competition. That leads to higher prices. The industries that have seen the highest price increases are sectors which have few companies.