Report: inflation costs driven mostly by profits, not labor cost

The report by the Maine Center for Economic Progress said corporate profits are rising as Mainers feel the pinch of record-high inflation and pointed the finger at policy decisions on a state and federal level that the group says has “given corporations greater power over people to set prices and control the flow of goods and services.”

“Now, corporations are using this power to extract even larger profits under the cover of current global supply chain disruptions,” the report’s authors wrote.

Click here to read the full story, first published June 22, 2022, in The Center Square.