Part of this is related to pandemics, as energy production will decline in the spring of 2020.
Bowling Green, Ohio — If you’ve noticed that your daily necessities are a bit expensive these days, you’re not alone.
Rising inflation is driving prices for gas, food and other necessities.
Economists define inflation as a general rise in all price levels. Inflation levels have been low over the last few decades. Inflation is about 2% in most cases, but has surged to about 6% these days, so you may find that many daily necessities are more expensive.
Part of this is related to pandemics as energy production declines in the spring of 2020. In addition, labor shortages among food processors and other food business operators remain a problem.
“And you can see that prices are rising because Arby’s and Burger King have to attract workers for $ 15 an hour where there is a labor shortage. So that’s the result.” Said Peter, Chairman of the Faculty of Economics, Boring Green State University. Vander Heart.
Currently, supply chain issues need to be resolved as things level off, which can take up to a year. However, not all are more expensive.
Vanderhart said clothing prices are relatively stable and will not change in the future.
“Ultimately, inflation is caused by too many dollars and too few commodities, and there are too few commodities because of the pandemic,” he said. “But because of the Federal Reserve policy, we may also have too much dollars.”
Inflation is still higher than normal
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