“I don’t think that’s what caused the consumer price inflation,” Mark Zandi, chief economist at Moody’s Analytics, said Tuesday in C-SPAN’s Washington Journal that price increases were not “a major factor in the high inflation we’re seeing.” near. Up to 8% per annum due to price increases. ”
Zandi said: “The leadership needed to stave off potential price spikes rests with Congress and the administration, and they need to shine – they need to continue to shine a light on potential bad practices. And you remember that management said a few months ago that when meat prices were rising so fast, they were doing the same for the meat packaging industry, and because the industry has bargaining power, it has the potential to raise prices. Because the industry is concentrated in the hands of only one couple, three or four different meat packers across the country. So this job, this job falls to legislators, Congress and the administration and their administrative responsibilities.”
“However, I can say that the long list of reasons for high inflation and again the leading reasons are the pandemic and the disruption caused by the pandemic, the Russian invasion of Ukraine and the disruption it caused. has a long list. I’ll put bad business behavior, price increase… at the bottom of the list. I don’t think it’s a major factor in the high inflation we’re seeing, not something that legislators shouldn’t pay attention to… I don’t think it’s the reason why consumer price inflation is close to 8% a year… because it’s for price increases.
Source: Breitbart
