Finance

5 Critical Areas Where We Feel Inflation

Too often, we consider things, based on labels, perceptions, etc, instead of delving, deeply, and considering, the true impacts, and ramifications, and possible, paths – forward! At – current, one of the most – discussed, topics, is, inflation, and what it might mean, to all, of us!

However, these considerations, often, proceed, in an overly – simplistic way, which serves very little purpose, in a relevant, and/ or, sustainable way. In fact, most people are being affected, by inflation, and inflationary trends, but, little, common sense, considerations, are focused – upon!

With, that in mind, this article will attempt to briefly, consider, review, examine and discuss, 5 areas, where most people, are feeling inflation (or, well, soon), to a significant degree.

1. Groceries/ household items: Anyone, who goes to the supermarket, has seen, their breadbasket, items, such as groceries, and other, household items, go – up, significantly, in – price, in the past year, or so! What has driven this? Probably, the single – biggest factor, is, supply – chain, considerations, because, items are more difficult and expensive, getting to the stores!

One factor, is, of course, Supply and Demand, because of this. This concept states when supply doesn’t keep – up, with demand, prices usually rise! Another factor is probably, greed, and, also, related to pandemic ramifications, and impacts. How long will this continue, and what strategies, might address this?

2. Utilities/ oil and gas, etc: We are seeing, rising costs, in electric rates, as well as heating costs! Oil and gas prices are rising, at a fast – pace, and this, causes, everything, else, to get more expensive, also!

Also Read: 5 Tips For Improving Warehouse Operations

3. Gas/ fuel, at the pump/ station: We are near, or at, record – high, prices, in terms of what we are paying, at the pump! Some of this comes, from, rising costs of labor, while much is also, due, to greed, from some, or several components, in the delivery – chain! President Biden just released, some of our Strategic Oil Reserve, to, attempt to address, the short – term, impacts, of increased demands, and the Supply and Demand, ramifications! Since, supposedly, the United States, is, now, the largest producer of oil, we can’t simply, blame OPEC, etc, but must realize, this is a multi-faceted, overall, inflation-related trend, etc!

4. Housing Costs (sales prices; repairs/ renovations; rents, etc): In most geographic areas, the price, to purchase, a house, has risen, dramatically, in the past year, or so! Some of this, is related to the Supply and Demand, ramifications, related to a continuing, Sellers Market, because of a lack of demanded, inventory. Some are, because, which low mortgage rates, buyers perceive they can afford, more, because of the impact on monthly payments. Part is related to inflation, but, whether, inflation, created rising home prices, or, that rise, contributes to, overall rates of inflation! Remember, also, because of the ramifications, on the thought processes, and perceptions, created because of the horrific pandemic, we are seeing much of this trend! Because, materials, and labor, have gotten more expensive, we are experiencing a far – higher cost of repairs, and renovations, etc.

Also Read: 5 Areas Interest Rates Matter

5. Dining-out/ entertainment: Restaurants have felt the cost of inflation, as much, as any industry! Challenges, getting help, the increased costs of labor, and food, utilities, etc, have created, significant price increases, in the cost of dining – out, etc! Entertainment costs have risen, because of a variety of impacts and ramifications of the pandemic, and inflation!

Inflation is, with – us, but, for how long? Many factors will determine, the longer-term ramifications, but, it is, certainly, wise, to proceed, wisely, and be prepared/ ready!

Maverick

Maverick is an Industrial Chemist by profession but his love and passion for tech made him choose blogging as a profession. Mave is a Tech Expert, Professional Photographer, Web Developer/ Designer, UI UX Designer, and Digital Marketing guru. His skills have earned him both local and international recognition, as well as several proofs of successful work.

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