In today’s world we are experiencing high costs. The pandemic has affected this in many ways, and although there are many citizens who see inflation as a positive or a negative for consumer spending, high inflation rates have had a mounting impact on how people see their finances. 

According to Bloomberg, inflation rates have increased and have had a greater impact on how people handle the pandemic.

During January 2022, the inflation rate has gone up to 7.5 percent. The prices are going up faster than they were in the 1980s. 

The cause of the U.S having inflation is because the supply chain is disrupted due to the COVID-19 pandemic. Everything is pushed back when it comes to shipping goods, trading and even the prices on a lot of  domestic products.

The price on gasoline has gone up to $3.01 and will only get higher from there along with a lot of food goods. Meat, eggs and fish have gone up by 12.5 percent, and fruits and vegetables had increased 5 percent. 

Inflation has also caused a negative effect on electricity prices. Electricity increased by 6.3 percent, while vedding and other furniture prices are now up to a percentage of 13.8.

From there on, more everyday products have only gotten their prices raised. This is a negative trend for many, as some people cannot afford these higher prices with the money they’ve saved.

Sure, there are some who believe that the cause of inflation benefits other businesses. What these people do not realize is that the a deadly disease we have been trying to fight for two years has made things that much more difficult for the average consumer.

And since I’ve been writing this, it’s likely that inflation rates have only gotten higher. 

This is a serious issue that is going to take a while to fix. The COVID-19 pandemic is definitely something that adds onto the issue, and people like you and me could be feeling the effects of these price hikes for quite some time.