greedflation

There has been much discussion about which sector of the community has been suffering most from inflation, and which sector has been contributing most to inflation.  The activities of business in putting up prices has come to be seen as a significant driver of inflation.  The excuse is that price rises are caused by a rise in the price of commodities, particularly food and energy, partly because of weather events and partly because of war in Ukraine with resultant broken supply chains.  Bananas will go up because most of the banana plantations in Queensland have been wiped out by floods.

But it seems that companies have been raising their prices a bit beyond these legitimate increases in costs, and certainly neglecting to lower them as costs go down.  The effect of this on inflation is described as greedflation, with a variant term, excuseflation.