Today, the Bureau of Economic Analysis (BEA) released new data showing that domestic nonfinancial corporate profits increased $136.5 billion in Q4, compared with an increase of $90.8 billion in Q3. Groundwork’s Executive Director Lindsay Owens reacted with the following statement:
“Even as supply chains have normalized and input costs have fallen, corporations are still padding their profits on the backs of families. Falling inflation has been a welcome sight, but it has more room to fall if corporations stop their excessive profiteering.”
Email press@groundworkcollaborative.org to speak with one of Groundwork’s experts about the role of corporate profits in rising prices.
