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Today, the U.S. Department of Labor reported 272,000 new jobs created in May, but corporate greed continues to artificially inflate prices and prevent the benefits of a strong economy from reaching many everyday Americans.

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Our economy continues to grow jobs at an incredible rate, yet persistent corporate price-gouging keeps many working families from getting ahead. Across industries, CEOs continue to prioritize profits over stable prices to keep the prosperity of a growing economy concentrated among the wealthiest. Rather than make excuses for their corporate donors, Congress needs to do so much more to help the Biden administration crack down on industry profiteering and junk fees.”

Accountable.US’ Liz Zelnick

Skyrocketing corporate profits have driven more than 33% of inflation since the start of the pandemic. Watchdog organization Accountable.US recently highlighted widespread price-gouging in the housing and food sectors, major expenses for American families. The shameless greed of these mega-corporations has also attracted the attention of the Senate Banking Committee, which held two hearings last month grilling major chains over their profit-driven price hikes.

A national survey commissioned by Accountable.US found that many Americans attribute inflation and higher costs to excessive corporate price increases. 60% of those polled agreed that “crack[ing] down on price gouging by banning hidden junk fees would be effective at lowering costs.

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