Changes in inflation by city
An ASU economics expert says most of today's inflation can be attributed to the COVID-19 pandemic.
In this story published Feb. 13, 2024, on WalletHub:
Most of the inflation we witnessed is a byproduct of the pandemic. Congress passed the $2.2 trillion CARES Act and the $1.9 trillion American Rescues Plan Act in 2020 and 2021 to alleviate the problems caused by the pandemic. At the same time, the Fed increased the money supply dramatically to keep the financial system going. Finally, the pandemic caused major problems with the global supply chain, which also pushed prices upward. Although all of these contributed to inflation, I think the global supply chain logjam was the biggest contributor, given that high inflation was being experienced worldwide.
– Daniel Marburger, clinical professor of economics
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