Since the start of the COVID-19 pandemic, the global economy has endured a series of disruptions that continue to have ripple effects for consumers. And few economic issues of this era have garnered more attention than the persistent run of inflation of the last three years.
In the wake of supply chain disruptions, robust fiscal stimulus, and strong consumer demand for goods, broad-based inflation in the U.S. took hold in 2021. Year-over-year price changes in the Consumer Price Index reached a peak of 9.1% in June 2022. In the ensuing two years, the rate of inflation has slowed but remains above recent historical levels. These effects have placed greater strain on household budgets as goods and services across the board have become more expensive.
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Increases in major cost categories like housing and vehicles have contributed substantially to recent inflation, while sectors like food and energy have seen great volatility in prices. But one other significant source of pressure has been household items. Household items can represent a lar… Click for more.Household Items That Have Increased Most in Price
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