What Inflation is like today

 

 What Inflation is Like Today 

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Inflation Today vs. in the Past:

      Currently, inflation is one of the biggest problems America is facing. By the end of 2021, the inflation rate had risen to seven percent. This is considered a very bad sign for America, considering the fact that most countries' rates rest between 1.5% and 4%. Inflation hasn't even reached five percent in the United States since 1990 and it hasn't reached the rate it is at today since the early 1980s. According to Statista Research Department, the rate of inflation was at an all-time high of 13.29% in the 80s. Although there have been progressive setbacks in the early 2000s, inflation has gone up tremendously in just these past two years and it continues to rise as we're finishing up 2022 going into 2023. We all have been able to notice the rate of change in our prices as we go through our everyday lives, purchasing things like groceries or even gas, all of which have increased influentially.

Recent Inflation Rates:

Demographics of Inflation Over the Decade:

 

The Cause of Inflation Rates:

     Inflation has gotten to the point it's at today for numerous amount of reasons. Our shipping cost from other Countries has gone up, wages have been raised, and natural disasters have caused shortages. All of these reasons have bound from the same source and that was the worldwide pandemic popularly known as Covid Nineteen. This Pandemic put America through a lot of hardship. The unemployment rate had increased more than ever before due to people losing their jobs or quitting for the purpose of quarantine. Many companies were struggling to find people who could work for them and this resulted in promised bonuses for new coming workers and/or raised wages. This allowed companies to hire employees so their doors could stay open but also forced companies to raise their prices. This Pandemic put a lot of Americans through a financially unstable time where our government had to step in and offer financial support. The coronavirus relief fund provided over 1.4k to each household. Nearly 1.7 trillion dollars was lent out to help keep Americans afloat. The money that a lot of families received was saved and spent once quarantine restrictions were lifted and this caused a major supply in demand to occur and prices to rise even higher forcing consumers to pay this price. The higher cost in demand also led to higher shipping costs because more people were now in need of more goods. The higher demand led shipping costs to increase 10x the value it was the previous year. Covid Nineteen is said to be the biggest have why inflation has gotten so high but it's not all to blame. Some environmental issues have also contributed to this. Some of our natural disasters, including natural events like hurricanes Ida and Nicholas, have damaged our oil supplies making our oil prices skyrocket.