Doesn’t that make inflation worse?
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Cherry picked some data, but it really looks to me like corporations are just passing the cost of inflation onto consumers.
McDonald’s annual gross profit for 2022 was $13.207B, a 4.98% increase from 2021. McDonald’s annual gross profit for 2021 was $12.58B, a 29% increase from 2020.
Walmart gross profit for the twelve months ending October 31, 2022 was $146.292B, a 2.14% increase year-over-year. Walmart annual gross profit for 2022 was $143.754B, a 3.54% increase from 2021. Walmart annual gross profit for 2021 was $138.836B, a 7.33% increase from 2020.
Kroger gross profit for the twelve months ending October 31, 2022 was $31.531B, a 4.87% increase year-over-year. Kroger annual gross profit for 2022 was $30.349B, a 1.79% decline from 2021. Kroger annual gross profit for 2021 was $30.901B, a 14.48% increase from 2020.
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