Why is everything getting so over-priced?
In: Economics
Due to COVID and other recent factors (that ship stuck in Suez Canal), there are shortages and supply chain hiccups of things like computer chips for cars, lumber, steel, etc. Those higher material costs and parts shortages reduce supply, which when demand is the same or higher, drive up prices. Many manufacturers expected to see demand drop for goods, so they reduced orders for materials and parts, only to see demand increase in many cases due to stimulus money, unemployment benefits, changes in lifestyle. And plant shutdowns, distancing requirements, sanitation protocols, etc. slowed production down, too.
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