#dataisbeautifulĪs many economists have pointed out, consumer prices are ultimately made up of two components: the costs of all the materials that went into producing the goods and services sold, and the profits captured by companies in the chain that produced the goods and service. I had to smile, though, at the authors calling listed company accounts a “novel data source” :-) Link to the relevant Bank of England research in comments. However, lots of variation within sectors - some companies increased profitability, others decreased theirs. Company profits outside oil/gas/mining made little contribution to #inflation.
Great, clear-headed analysis by on #greedflation.
