Rising prices and the effects of inflation
Prices are going up for everything – whether it’s gasoline, going out to eat at a restaurant, products like pork or chicken and even utilities like natural gas. According to CNN Business, the Consumer Price Index rose by just over 5% in August.
While this initial inflation was due to the ongoing COVID-19 pandemic and the relief offered for the economic downturn, some fear the delta variant may result in even more increased prices.
The federal government has said the pandemic continuing to have an effect on prices has gone on longer than expected, but that prices should drop again in 2022.
In this episode, we talk to experts and break down the causes and impacts of this current inflation.
Harry Bowen, professor of economics at Queens University of Charlotte
Scott Horsley, chief economics correspondent at NPR
Sarah House, senior economist at Wells Fargo