Are companies profiting from the cost of living crisis?

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New research from economists in both Europe and the US shows that corporations are artificially stimulating current high levels of inflation. Ed Butler speaks to one of those behind the studies and asks if the price rises are all entirely justified. We get the latest from Washington as President Biden urges Congress to pass a deal to raise the government's borrowing limit and prevent a potentially catastrophic default on US debt repayments. And we hear the new warnings about the risks posed to humanity by the latest advances in artificial intelligence. (Picture: A person arranges groceries in El Progreso Market in the Mount Pleasant neighborhood of Washington, D.C., U.S., August 19, 2022. Credit: REUTERS/Sarah Silbiger/File Photo)