Excess returns are among the key factors contributing to global consumer price rises, a study has found Big businesses fueled inflation in 2022 by passing on greater cost increases than needed to protect their margins, according to a new report by the IPPR and Common Wealth think tanks. Issued earlier this week, the joint study found that nominal business profits were on average 30% higher at the end of 2022 than at the end of 2019. Big firms made inflation “peak higher and remain more persistent,” particularly within the oil and gas, food production, and commodities sectors, researchers said. “We argue that marke
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