Consumers Face Highest Inflation since 1990

As we have noticed in our day-to-day lives, it seems as though the price of everything is increasing. Recently, the US Bureau of Labor Statistics reported prices have gone up 6.2%. This is the highest it has been since 1990. In comparison to 2020, data shows food is up an average of 5.3% with some items like beef reported to be up an average of 20%, and at the gas pump, if you haven’t noticed the crazy prices, gas prices are up 49.6%.

Dr. Isar Kiani, a marketing professor at St. John Fisher College, explained the inflation rate comes down to supply and demand: “Dr. Isar Kiani, a marketing professor at St. John Fisher College, explained the inflation rate comes down to supply and demand…As soon as we have the demand and the supply balance, everything goes back to what we had before, but I don’t mean the number I mean the perception of it.”

Source: 13 WHAM