Thread by @econliberties

NEW: Data released today from @BLS_gov shows the industries where inflation has skyrocketed in recent months.

But what has caused inflation to rise? Consolidated corporate power.

🧵⬇️ on how concentrated some of the industries experiencing the greatest rates of inflation are.

https://twitter.com/BLS_gov/status/1458426833012236291

2/ Rental Cars 🚗
🔴Inflation: +39%
🟠Concentration: 50% market share by @avis, @enterprise, and @hertz.

3/ Meat, beef & poultry processing 🍗🥩
🔴Inflation: +20% (bacon), +20% (beef), +14% (pork), +8% (chicken)
🟠Concentration: 55% market share by @JBS_oficial, @Tyson_Foods, @cargill, and @SmithfieldFoods

4/ Cigarettes 🚬
🔴Inflation: +9%
🟠Concentration: 91% market share by @AltriaNews, @RAI_News, and @ImperialBrands

4/ Baby food 🍼
🔴Inflation: +8%
🟠Concentration: 89% market share by Abbott, @ThisIsReckitt, @PerrigoCompany, and @Nestle.

5/ Peanut Butter 🥜
🔴Inflation: +6%
🟠Concentration: 92% market share by @Smuckers, @ConagraBrands, @HormelFoods, and store brands.

6/ Pets, pet supplies, accessories 🐶🐱
🔴Inflation: +5%
🟠Concentration: 47% market share by @PetSmart and @Petco

7/ Beer 🍺
🔴Inflation: +4%
🟠Concentration: 75% market share by @AnheuserBusch, @MolsonCoors, and @cbrands.

8/8 Systemic monopolization is at the root of wide-spread shortages and rising inflation.

@matthewstoller explains more in @guardian.
theguardian.com/commentisfree/…