“Greedflation” costing Pa. families thousands each year, Sen. Bob Casey says

PHILADELPHIA (CBS) — Companies are making more money as American shoppers pay more thanks to inflation.

In 2022, major U.S. corporations had their best year since 1950, despite the highest inflation in 40 years.

Some leaders including Democratic Pennsylvania Sen. Bob Casey have argued corporations are “us[ing] inflation as cover to raise prices and increase their own profits.

Casey, leaders from community groups including Esperanza, and a local economist spoke on a panel discussing how rising prices are affecting families.

READ MORE: “Greedflation” costing Pa. families thousands each year, Sen. Bob Casey says – CBS Philadelphia (cbsnews.com)