Businesses raise prices because they want money. People raise expected wages because they want money and now the things they need/want cost more.
Goods get more expensive because of this.
*However*, if goods did not get more expensive, then there would be a shortage. Inflation happens when there is too much money compared to how many goods exist, so if prices do not go up then people will try to buy more goods and run out.
They aren’t concerned with the impact on inflation, instead the costs that the workers are having to pay in the shops has gone up so to keep the workers from losing out they raise workers wages, in addition fuel, electricity and other costs also have been rising so they raise the costs of the goods that they provide to maintain the profit margin.
Businesses raise prices because they want money. People raise expected wages because they want money and now the things they need/want cost more.
Goods get more expensive because of this.
*However*, if goods did not get more expensive, then there would be a shortage. Inflation happens when there is too much money compared to how many goods exist, so if prices do not go up then people will try to buy more goods and run out.
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