August 17, 2022

The Untold Story of Inflation: Corporate Profits Are the Real Culprit

By Ivana Saula Canadian Director of Research Over the last few months, inflation has been running rampant causing a rise in prices, the cost of living, and cutting into real wages of workers. Mainstream media has blamed high inflation on government spending during the pandemic, and increasing wages as culprits. Yet, wages have increased only slightly (3.3%), when compared to the consumer price index (8.1% June 2022), meaning workers are