Inflation may not have reached an all-time high stateside in 2022. That happened in the 20s when both an all-time rise and then an all-time deflation happened in quick succession.
However, inflation did reach its highest in 40 years (an increase of over 9%) in July 2022. The rate has quadrupled over the past two years, at a time when people have been reeling from the pandemic.
It’s time to disentangle these threads and assess where do big profit margins of the biggest companies on US soil come in. And if any of that has to do with inflation.
Inflation of course refers to a widespread raise in prices across various commodities and utilities on a national scale, leading to a decrease in the purchasing value of money.
Indeed, according to the Department of Labor’s last report in October 2022, food inflation was up by 10.9% since the same time last year, while energy inflation hit a 17.6% rise.