Report from Sense partners economist Shamubeel Eaqub says greedflation is 'an imported narrative'

Shamubeel Eaqub says there's no evidence profit margins are driving up inflation. (Image: Sense Partners)

Wed, 14 Jun 2023

A new report questions whether "greedflation" is the real cause of inflation, as some have suggested, with analysis showing corporate profits are actually lower than they were before covid. In a report for BusinessNZ, Sense Partners economist Shamubeel Eaqub found 75% of inflation over the past three years came from increases in the cost of inputs, with the remaining 25% evenly split between rises in wages and profits. "We found no evidence of widespread increases in profit margins driving up inflation in New Zealand,"...

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