'Unregulated corporate power to raise prices opportunistically without accountability allowed corporations to come out of the crisis ahead while consumers struggled to get by.'
, even more, using the general increase in prices as cover. While executives initially found inflation to be a useful smokescreen for their markups, they quickly found additional opportunities.
Even as input costs have begun to come down in recent months and global supply chains slowly unsnarl, companies like PPG, a paint company, are clear that prices will not come back down. In April, when asked what the company will do as the cost of raw materials declines, PPG’s CEOCorporate earnings calls offer us a rich qualitative dataset that shows how corporate executives deliberately raised prices above and beyond their input costs to rake in record profits off the backs of consumers.
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