The term "greedflation" dominated headlines during post-pandemic price surges, but public attention has faded alongside moderating inflation rates. Google Trends data reveals search interest in greedflation closely tracks actual inflation, suggesting consumers only worry about corporate pricing power when it hurts most. Yet this shift in focus may be counterproductive. Companies constantly seek profit maximization, but blaming inflation solely on corporate greed fails to explain why pricing behavior changes with economic conditions.

Research by Brinkmann and Datta of the University of Warwick examined UK diesel pricing during the 2022 oil shock following Russia's invasion of Ukraine. While wholesale prices jumped 39 pence per litre, retail prices rose only 16 pence—margin compression that contradicts greedflation theory. Their analysis reveals "rocket and feather" pricing dynamics: pump prices spike quickly but descend slowly. Similar patterns emerged in Matthew Lewis and Howard Marvel's earlier work showing customers search more intensively when prices rise, despite limited benefit.

Historical evidence supports asymmetric pricing behavior. Sam Peltzman of the University of Chicago found that in over two-thirds of markets studied, prices respond faster to cost increases than decreases. This "prices rise faster than they fall" phenomenon suggests consumers should scrutinize corporate pricing practices regardless of inflation levels. Competition authorities should maintain vigilance against market concentration, particularly when public attention shifts elsewhere. The absence of public outcry creates the perfect cover for sustained profit-margin expansion.

Whether inflation provides cover for corporate pricing power or low inflation enables it through consumer complacency, the conclusion remains clear: competition policy should target dominant firms and improve price transparency. With US wholesale prices reaching 6 per cent in April, renewed scrutiny of corporate pricing behavior appears inevitable. However, consumers should remain most vigilant precisely when greedflation disappears from headlines.