Major US Retailers Accused of Profiteering, Raising Consumer Prices Amid Soaring Inflation

People shop at a grocery store in Monterey Park, Calif., on April 12, 2022. FREDERIC J. BROWN/AFP via Getty Images

Some of the United States’ biggest retailers have been accused by a nonpartisan watchdog organization of profiteering from rising inflation levels across the nation.

In the new report (pdf) by Accountable.US, companies including Costco Wholesale Corp., Walmart Inc., Target Corp., CVS Health Corp., Kroger Co., and T.J. Maxx parent company TJX Companies Inc. are among those accused of utilizing increasing inflation rates to slap higher prices on their products, while simultaneously seeing near-record margins in 2021.