Why does the cost of living keep rising?

397 views

Disclaimer: I’m from North America. I know it’s happening here but I don’t know if that’s the case on a global scale.

In: 1

2 Answers

Anonymous 0 Comments

In general, because a little bit of inflation is preferable to keep people spending or investning instead of just hoarding cash.

More recently, COVID-related interruptions to supply chains have impacted many businesses and caused increases in prices due to lack of supply (chip shortages affecting cars and appliances, lumber and steel shortages affecting all sorts of goods), increases in shipping costs (cargo ships, trucking, etc), increase in labor costs due to worker shortages.

You are viewing 1 out of 2 answers, click here to view all answers.