Business took 30% price increases since 2020 and Biden got the blame. See the graphs at link. Astounding.

[nature-lover]

https://wolfstreet.com/2024/12/11/beneath-the-skin-of-cpi-inflation-cpi-core-cpi-accelerate-further-month-to-month-the-3-month-averages-heat-up-for-4th-month-in-a-row/

snip

The CPI for motor vehicle insurance rose by 1.6% annualized in November from October, after a dip in October, and a 15% annualized spike in September.

Year-over-year, it rose by 12.7%. Since January 2022, it exploded by 51%.

The massive inflation in motor vehicle insurance was fueled initially by the spike in repair costs and used-vehicle prices (replacement values) in 2021 and 2022, though used-vehicle prices have plunged since then. Since 2023, insurers were able to increase their profit margins by increasing their premiums even as replacement costs plunged.

snip

Food Inflation.
The CPI for “Food at home” jumped by 5.8% annualized in November from October (+0.47% not annualized). That’s the second month of the past three months with big increases like this.

This caused the year-over-year rate to rise to +1.6%, the most in a year, on top of the already aggravatingly high prices. The CPI for food at home is up by 27% since January 2020.

Food at home includes food purchased at stores and markets and eaten off premises.

[Lonestarblue]

1. The economist Joseph Stiglitz calls these inflationary spikes greedflation. He is correct.

Much of what is wrong in the United States can be traced to big corporations and their outsized influence on government.

[patphil]

4. Greedflation is an accurate way to characterize it.

Don't expect Trump to step in and force companies to cut prices to remedy this.
Companies will just become instant political donors to protect their profit margins.

[Clouds Passing]

2. Greedflation, Shrinkflation and Less For Way More

Billionaires are sucking the life out of the earth.

[Hermit-The-Prog]

3. Oligarchs know how to manipulate the electorate.

[Botany]

5. The super rich don't think they are rich enough and enjoy fucking the middle class so they would blame....

….Joe Biden for problems they caused. BTW in the eggs cost too much meme “they” were pushing
was caused by Avian influenza and we are down over 100 million birds but you never heard word
one about that from our “liberal media.”

[Escurumbele]

6. I know this comment will not be popular here but...Biden should have done something about it.

What to do? Send auditors to these companies, find out why they are gauging the consumers, apply penalties, make them pay.

In my history reading I remember a country in South America that did exactly what I am talking about, once they proved the companies were illegally charging more, the government not only placed fees on them, hefty fees by the way, but then instituted PVP (Precio Venta al Publico - Retail Price) norms which allowed corporations to still make a very good profit but protected the public from abuses...and that is why REGULATIONS, when done well, are extremely important.

Biden could have gone after these corporations, but they did not.

I just want to ad that usually administrations tend to go soft on corporations when approaching elections but, Biden had to know that the corporation were not going to help him, no matter what, USA corporations have become corrupt, greedy, and we all know that. So, knowing that, he should have enforced rules and regulations to protect the public, they are not with you anyway, so make them pay.

[Mike 03]

7. Oh well. The party-size bags of Cool Ranch Doritos are still a great

buy.