Corporations Abuse Record-High Inflation To Boost Profits

Inflation has just hit a 40-year high as more Americans are feeling the strain of increased food, gas, and housing prices. However, there is one subset of American society that isn’t feeling the effects: profit-hungry corporations. Cenk Uygur and Ana Kasparian discuss on The Young Turks. Watch LIVE weekdays 6-8 pm ET. http://youtube.com/theyoungturks/live

Read more HERE:
https://www.independent.co.uk/news/world/americas/us-politics/inflation-rates-rise-us-price-b2033039.html

"Inflation hit another 40-year high as the Consumer Price Index jumped 7.9 per cent in the past year, the Bureau of Labor Statistics reported on Thursday.

Increases for food, gasoline and shelter contributed the most to inflation, with gas prices increasing 6.6 per cent and accounted for nearly a third of the all items monthly increase.

The numbers come as gas prices are expected to increase given Russia’s war in Ukraine and the Biden administration’s decision to ban oil imports from the country amid Vladimir Putin’s assault.

The index for food increased 1.0 per cent while the food at home index increased 1.4 per cent, with both being the biggest increase since April 2020.

President Joe Biden released a statement touting the economic recovery but also faulted the Russian president’s attack on Ukraine for increased gas prices."

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