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17,000-company study of COVID greedflation shows most profited from cost-of-living crisis

Posted on AllSides May 16th, 2024
From The Center

The aftermath of the COVID-19 pandemic came with many “new normals,” not least hybrid working and rising prices. Suggestions are growing that the latter may not have been entirely the result of extraneous factors. A study of 17,000 British firms by the country’s Unite Union found that on average they increased their profit margins by 30% in the post-COVID period compared with 2018-2019. The alleged price-gouging was rampant across industries, from supermarkets to energy firms and even private equity-backed veterinary chains. In total, 60%, or 9,651 of the companies analyzed...

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https://fortune.com/europe/2024/05/17/greedflation-british-firms-profit-margins-cost-of-living-crisis-17000-firms

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