Neither Google nor Facebook make any significant profit from selling consumer profits. It's pretty tenuous to claim that their large profits are driving consumer inflation. Amazon makes virtually zero profits in consumer goods. It's high recent profits come from the B2B segments of AWS and advertising. Apple's margins have always been historically high. If anything iPhone concentration in the smartphones has declined since 2017.

The sizable bulk of consumer inflation is being driven by housing, energy, food and used cars. It's extremely tenuous to tie any of this to FAANG profits.