High prices are here to stay – By Javier E. David (Axios) / April 18, 2022
Inflation is pushing prices higher and higher, and some of those costs may never come back down to the levels Americans were accustomed to before the pandemic.
The big picture: The inflationary moment we’re in right now won’t last forever. But the good old days of cheap goods, and even cheaper services, may be long gone.
Where it stands: Before COVID, overall inflation ran comfortably at or near the Federal Reserve’s target of 2% annualized, thanks in part to technology, productivity and cheap labor.
- But the low-inflation status quo has been disrupted — perhaps irrevocably — by supply bottlenecks, worker shortages and spiking prices that Corporate America is happily passing along to consumers.
- Gas, food and other consumer prices have soared, with no end in sight.
CONTINUE > https://www.axios.com/inflation-food-gas-prices-expensive-fb10e559-321b-43d8-966b-c65a5ec624a2.html
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