Greedflation
Rising prices due to greediness
Example
lemme get this straight. they cut 3,000 jobs this past year, raised their prices, gave their CEO millions of dollars, and also saw record profits?
yup. greedflation at its worst
Greedflation definition by Slang.net
This page explains what the slang term "Greedflation" means. The definition, example, and related terms listed above have been written and compiled by the Slang.net team.
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Greedflation is the significant increase in the prices of goods and services caused not by increased costs but by corporate greed. It occurs when businesses take advantage of situations like economic uncertainty, supply chain disruptions, or inflationary periods, using these factors as a scapegoat to justify price hikes. The result is that consumers end up paying more for goods and services (especially hurting lower-income consumers), while companies see larger profit margins.
Origin of greedflation
While it is unclear who coined the term "greedflation" (combination of "greed" and "inflation"), it became popular in the U.S. in April 2023. Many Americans suffering under the burden of inflation began to question the real reasons why companies have kept their prices high in the wake of covid, supply chain breakdowns, and a war.
While some companies argue that they are simply responding to market conditions, greedflation highlights the concerns of many that some price increases are driven more by corporate greed than by genuine economic factors. Many of those suspicious have taken to online forums and social media to complain about greedflation affecting them at places like gas pumps, retail stores, and grocery stores.