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== History ==
A 2020 paper showed profit margins rising from 1% in 1980 to 8% since, which ''[[The Hill (newspaper)|The Hill]]'' believes has continued to increase.<ref>{{Cite web |last=Burns |first=Tobias |date=2024-09-03 |title=Vice President Kamala Harris's plan to ban food price gouging scrutinized |url=https://thehill.com/business/4856050-vice-president-harris-proposal-ban-price-gouging/ |access-date=2024-09-06 |website=The Hill |language=en-US}}</ref> Greedflation was discussed in the news media in the wake of the [[COVID-19 pandemic]] when inflation increased significantly.<ref name=":8">{{Cite web |last=Czopek |first=Madison |title=Fact-check: Sen. Casey blamed rising prices on corporations |url=https://www.politifact.com/factchecks/2024/aug/28/bob-casey/sen-bob-casey-said-prices-are-up-because-of-schemi/ |access-date=2024-09-01 |website=[[PolitiFact]] |language=en-US}}</ref> Proponents of the theory pointed to data showing that corporate profits outpaced inflation as well as to price fixing lawsuits against food companies.<ref name=":8" /> Economists interviewed by PolitiFact believe rising costs of goods, labor and real estate are bigger drivers of inflation than profits, which could still be a contributing factor.<ref name=":8" /> Combatting inflation by ensuring corporations are not taking excessive profits has become a major campaign platform for [[Democratic Party (United States)|Democrats]] ahead of the [[2024 United States elections]].<ref>{{Cite news |date=August 23, 2024 |title=Price-Gouging Crusade Electrifies Democratic Rank and File |url=https://www.wsj.com/economy/consumers/price-gouging-crusade-electrifies-democratic-rank-and-file-01255bfd |work=Wall Street Journal}}</ref>
== Mechanisms ==
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