Companies are trying to maintain fat profits as the economy changes, making “premiumization” their new favorite buzzword.
https://www-nytimes-com.cdn.ampproject.org/c/s/www.nytimes.com/2023/03/04/business/economy/premium-prices-inflation.amp.html
The premiumization trend also reflects a divide in the American economy. The top 40 percent of earners are sitting on more than a trillion dollars in extra savings amassed during the early part of the pandemic. Lower-income households, on the other hand, have been burning through their savings, partly as they contend with the higher costs of the food, rent and other necessities that make up a bigger chunk of their spending.