United States: Why is there no inflation when there is high corporate concentration?

The degree of corporate concentration is high in the United States, as dominant companies have acquired monopolistic and oligopolistic positions. Usually, high corporate concentration and dominant positions give rise to inflation, as these dominant companies exploit their monopoly position and increase their prices. But there is no inflation in the United States: how is this possible when there is high corporate concentration? Two explanations are possible: Dominant companies are still in the phase of wiping out their competitors to strengthen their dominant position, which they do by lowering their prices. Only later, once these dominant companies have got rid of their competitors, will they then take advantage of their monopoly position and increase their prices; Monopolistic companies obtain high profit margins. But if wage earners have lost bargaining power and labour market flexibility has increased, then wages will be lower and there will be no need for companies to increase their prices to achieve higher profit margins. Could inflation return in the United States? The answer is yes if: Dominant companies end up taking advantage of their situation and increase their prices; A political change (victory for “left-wing” D emocrats) leads the labour market to function more in favour of wage earners: as wages rise, dominant companies will increase their prices to achieve high profit margins.