Inflation continues to rise. Here's the story with consumer prices, and producer prices (which lead consumer prices by several months) are worse.
Outside of macroeconomics class, your response to friend's and family about this should be ... "Duh". This is what inflation does.
It is like putting a pot of water to boil on the stove, and when it start to rise up to overflow the pot you need to do something about the cause. Hopefully you have several causes in mind, and an awareness that this didn't happen overnight. Or not.
We're not really doing much at all about those, but do keep in mind that it's early, this won't be easy, and we live in interesting times. Continue to bet on it getting worse before it gets better.
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It is hard to explain to students who've never lived through an inflationary period what it's like. Here's someone's reminisces of the 1970's.
Many of you have connections to California, and there are reasons that gas is always more expensive there. Some of those have been around for a long time; more recent environmental policies have made it worse.
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