We’ve all had our wallets abused for the past two years. Gas prices are through the roof, groceries cost as much as car insurance, even some brands of gum are over five dollars a pack.
When will the burden end?
Media outlets have been guaranteeing that inflation peaked in May when it hit a 40-year high of 8.6%. That’s only a partial truth. It has since lowered but just barely. The issue that we currently face is corporations.
Inflation is an issue, but corporate gouging is the root cause. Typically, once inflation peaks, prices begin to slowly but steadily decline. Now, we face a wage/price cycle, where higher prices lead to higher wages, which triggers companies to raise prices again.
Corporations have seen 70-year high profits. Meanwhile, Black households are struggling. These prices have severely impacted our community. With the cost of living rising but wages stagnant and economists unsure when prices will tumble, the current picture is bleak.
As the markets adjust, prices MAY begin to come down, but with corporate greed at an all-time high, relief may be nominal. It’s time for a massive change in American corporate greed and the capitalist system that fuels it.