Corporations are a lot more willing than usual to raise their prices lately, and it’s putting more of the burden of high inflation on consumers.
That may not come as much of a surprise to anyone who has browsed a grocery aisle, kicked the tires at a car dealership or filled up a gas tank of late, but even the Bank of Canada is starting to take notice of the trend, as the central bank continues its battle to wrestle inflation into submission.
Speaking to a parliamentary committee in Ottawa this week, the bank’s governor, Tiff Macklem, told lawmakers that the bank has noticed a troubling new trend coming out of the corporate sector.
For much of the past few decades, any time businesses have seen a jump in their input costs — the amount they pay for things like raw materials, energy and even workers — “they were pretty cautious about passing on [that cost into] the prices they charged for goods and services,” Macklem said.
Their reasoning was simple: they were afraid of losing customers.
Don’t call it inflation, this is price gouging
The price gouging is causing inflation.
They then have segments on the TV telling us it’s our fault for spending more money. Like how the fuck am I supposed to spend less money when all the essentials in life are skyrocketing in price!?
It’s more that wages have simply never kept up with inflation, and now there’s so little room left for the individual, while end stage capitalistic corporations are happily gouging away at stones in search of more blood.
Indeed, but the gap has definitely and noticeably accelerated between them in the last few years. It’s a problem caused by greed ultimately.
The tacit answer goes to politics. Capital is trying to gaslight people into believing that life is not worth living anymore.