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U.S. companies post their biggest profit growth in decades by jacking up prices during the pandemic | Fortune

When taxes are factored in, last year’s corporate profit increases were even more of an outlier. They soared 37% year over year, more than any other time since the Fed began tracking profits in 1948.

U.S. companies posted record profits in 2021, even as Americans struggled with rising consumer prices amid the COVID-19 pandemic.

Corporate pretax profits surged 25% year over year to $2.81 trillion, the Bureau of Economic Analysis said on Wednesday. That’s the largest annual increase since 1976, according to the Federal Reserve.

Full Story: U.S. companies post their biggest profit growth in decades by jacking up prices during the pandemic | Fortune

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