As prices for goods are on the rise, there has been a debate over how much control consumers have at the cash register.
People walk through the Orlando Vineland Premium Outlets shopping mall on July 12, 2022, in Orlando, Fla.
MABUD: If you look at the data, we see that corporate profits are at 70-year record highs. So even as consumers are struggling to send their kids to school and put gas in the tank and put food on the table, there are some people who are making a lot of money off this crisis. MABUD: Yeah. There's a lot of research and evidence to suggest that two things are not driving up prices. Increase worker wages and money in people's pockets. I think the critical thing to remember here is we are coming out of a wild time in our economy. We just went through a pandemic, [an] unprecedented sort of economic forces and disruptions. At Groundwork Collaborative, where I work, we often like to say we are the economy.
3M also said that they're already working on higher prices to expand its profit margins even further. The CEO of Constellation Brands, which produces Modelo and Corona, has said on an earnings call, that we want to take as much as we can when it comes to pricing.
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