A recent report covered by The Guardian explains how corporate mega-stores, like Walmart and Target, are driving the majority of inflation in the US.
Citing new research, the coverage shows more than half of the inflation currently impacting American families can be attributed to the increased profits of America’s largest corporate retailers.
The Guardian notes mega-store and large retail brand “executives [bragged] to shareholders about keeping prices high and widening profit margins [despite] input costs coming down.”
Despite the facts, some lawmakers still hold onto the fallacy that legislation placing new government mandates on credit cards – which have not raised rates in more than seven years – are the solution to lowering prices. The Guardian article exposes the truth: executives at corporate superstores continue to put profits over their customers, and any savings from new mandates would never be seen by American consumers.
A new EPC explainer on the report is copied below.