The rise of inflation continues to rise in 2021 and will lead into 2022. The inflation began in the
beginning of 2020 and continued to rise with no intention of stopping. It slowly kept rising at a
steady pace and started to slow down but not by much. Through 2020 there was around a
1.25% inflation rate which seems low but still caused a rise in prices for many things. It caused
gas prices to rise very high, used cars, and meat, eggs, fish, and poultry. They all have
increased very noticeable in the course of around 1 year and a half.
With the demand for items that everyone needs will cause more inflation on those items like
gas. During 2020 there was a period when not many people were driving and gas stations were
losing money since it started. When everyone was able to go back to work and things started
back up everyone needed to drive. So gas stations decided to raise the gas prices a lot to make
back the money they lost.
That was only during COVID-19 in that time but since our political office has changed, it caused
more inflation to rise. Since our trading routes haven’t been used and causing very little access
to resources we need. Those resources are needed and have a high demand which will cause
prices to increase greatly since it’s hard to find. For example lumber is still expensive and it
increased since we couldn’t get it. We need lumber and other materials to make houses.
Lumber prices have increased around 3.3% which doesn’t seem like a big increase but when
you compare it to years before. It shows a very big increase because if no one is building
houses, then no one is buying lumber. Then people that need a house can’t buy one but since
lumber has risen the price for the house goes up a lot. Another would be the average of how
much gas has gone up would be around 58.7%. Whatever the original price was it would have
risen the half of that added to the original price.
The inflation in the US has increased around 6.2% during October. Which is the highest it has
ever been in three decades. That is a very high inflation rate which is caused by the demand for
resources everyone needs that we can’t get.