I understand why inflation currently happens. The price of gas goes up, so the cost of transporting goods goes up, so the cost of production goes up, etc etc. I can wrap my head around that. But how did it start? What was the first thing to go up in cost, creating this chain reaction? Could it have been avoided if the initial thing did not rise in cost?
In: Economics
The pandemic disrupted Manufacturing and global supply chains. The invasion of Ukraine compounded matters by disrupting the energy sector. Floods, drought, and wildfires have decimated crops, sending food prices soaring. It’s no one thing. Expecting it all to be fixed in just a couple years is unreasonable and naïve
Latest Answers