As inflation stays high around the world, some are increasingly blaming high corporate profits. An IMF working paper found that corporate profits account for nearly 45% of European inflation. Inflation is not solely caused by soaring profits, but the working paper finds that profits rising well above pre-pandemic trends have made their mark on European inflation. And Europe might be worse off than the US when it comes to so-called "greedflation," as inflation in the states cools off and profits play increasingly less of a role in keeping costs high. The IMF analysis finds that profits are ultimately playing a larger role in European inflation than in the US and Canada.

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Persons: —, hasn't, Niels, Jakob Hansen, Frederik Toscani, Jing Zhou, Noah Sheidlower, Chris Becker Organizations: Service, International Monetary Fund Locations: IMF, Europe, Canada