Why is Inflation So High? [Infographic]

Written by brianwallace | Published 2022/01/09
Tech Story Tags: inflation | price-inflation | infographic | economics | business | consumer-behavior | finance | world-economics

TLDRThe US Consumer Price Index rose a staggering 6.8% in 2021. This sharp increase is due to inflation– the increase in the price of goods or services due to weakening currency. The Federal Reserve aims to keep inflation at 2% or less each year, but in the past years inflation rates have been rising. With the pandemic and millions of Americans being put out of work, there is less production of goods but more demand which has led to the rise in prices. Rising prices for goods and services is inevitable, it is important that your personal finances are protected.via the TL;DR App

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Written by brianwallace | Founder @ NowSourcing | Contributor at Hackernoon | Advisor: Google Small Biz, SXSW | Founder of The Innovate Summit
Published by HackerNoon on 2022/01/09