Greedflation: are multis hungry for profit?

In recent years and months, the domestic and international retail sector has come into focus for several reasons. The outbreak of the new type of coronavirus in 2020 led to a significant decline in trade, followed by a revival in business activity as economies reopened. Initially, prices decreased (e.g., fuel), but with economic recovery, they began to rise again. Demand and supply effects emerged simultaneously, resulting in a change in the inflationary environment. This complexity was further compounded by the Russian-Ukrainian conflict and its consequences, which rendered value chains more vulnerable. Additionally, a phenomenon known as “greedflation” has emerged, a term coined by blending “greed” and “inflation.” This term is used to describe the situation where multinational corporations exploit rising commodity prices as an excuse to significantly raise prices and profit margins to unprecedented levels.