Despite the Biden government’s claims to the contrary, corporate price-gouging has notbeen driving rises in U.S. inflation, according to research published by the Federal Reserve Bank of San Francisco on Monday. The Biden regime has attempted to blame inflation on corporate America by deploying terms like ‘greedflation’ and ‘shrinkflation.’ Although markups were observed in 2021-2022 for vehicles and petroleum products, markups across all U.S. goods and services have been relatively flat post-pandemic. “As such, rising markups have not been a main driver of the recent surge and subsequent decline in inflation during the current recovery,” wrote bank researchers. “Data for the current recovery show that the increase in corporate profits is not particularly pronounced compared with previous recoveries,” they wrote. “Markups also have not played much of a role in the slowing of inflation since the summer of 2022.” The research is a direct rebuttal to the Biden regime’s efforts to blame corporate America for inflation. In a video released around the Super Bowl, Biden slammed snack manufacturers for selling smaller bags of food for the same price. In his most recent State of the Union address, Biden leveled similar accusations against large corporations, accusing Snickers by name of engaging in “shrinkflation” practices. Inflation continues to be an issue for the incumbent Democrat, and more Americans have faith in former President Donald Trump’s ability to bring it under control versus Biden’s.

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