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Why does price/cost/profit data from the BEA sum to more than 1 per unit ?
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I'm looking at the following data from the BEA and trying to reproduce what some outlets have reported as "50% of inflation was due to profits rising".

I see that the title is "Price, Costs, and Profit Per Unit of Real Gross Value Added of Nonfinancial Domestic Corporate Business", and I saw some economist link to this to explain the 50% figure wasn't very useful.

What does "profit per unit of real gross value added" mean ? Why does it not sum to 1 ? Could you give examples using specific products sold and how these numbers reflect this ? Perhaps explain some biases in analyses from this economist or other studies ?

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8 months ago