Just to provide evidence, you can see the impact of corporate profits and the unit cost of products during COVID-19 in this study:

https://www.epi.org/blog/corporate-profits-have-contributed-disproportionately-to-inflation-how-should-policymakers-respond/

Corporate profits were a majority of the driver of cost of products during a literal pandemic when people were suffering and needed cheaper goods the most. The pandemic caused inelastic demand to increase and so companies took advantage of a global crisis to line their pockets.