The Sticker Shock of Inflation
The Average U.S. household is seeing its cost of living rise by about
$4,400 a year. – Inflation is Expensive.
The American Consumer Institute released a report entitled, “The Recent Causes of Inflation and Adverse Consequences for Consumers.” They looked at a couple of the multiple factors that can contribute to inflation, and they specifically focused on three.
How the stimulus increased demand and pulled the prices up, how regulations can increase costs for consumers, and last but certainly not least, they focused on how energy can drive prices up through the entire supply chain. All of these factors combined contributed to inflation growing faster than wages, which eats away at the purchasing power of the American consumer.
An Interview with Tirzah Duren: Policy Analyst for The American Consumer Institute.
Rising Inflation From Covid Stimulus, Regulations, and Energy Costs.
“When you look at the overall cost of energy prices, they have increased over 40% as of June. And when you look at the energy and transportation costs, this is really hurting the low-income consumer who has less disposable income to begin with. And when you break it down by income group, the increased cost in energy and transportation amount to almost 80% of expenses households under $15,000 and yes, that’s a lower threshold, but it’s a massive increase for the people who really can afford it the least.” – Tirzah Duren
“I’m just kind of a common sense guy that you could look at what was happening all the way back from the beginning of Covid and some of the stimulus things we were doing, the shutting down of industries and so on. I mean, if you looked at all of that, to me it was just a sign that buckle up, you’re going to see inflation like we haven’t seen in quite a long time. And the reality is we’re here. It happened.” – John Rush
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Tirzah Duren
Policy Analyst for the American Consumer Institute
Tirzah Duren is a Policy Analyst for The American Consumer Institute. She brings an interdisciplinary approach to policy, having received her B.A. in Anthropology from Eastern Oregon University and her M.A. in International Studies from the University of San Francisco. Tirzah has professional experience in economic research departments across various think tanks. (Photo Credit: Twitter)
Tirzah Duren
Policy Analyst for the American Consumer Institute
Tirzah Duren is a Policy Analyst for The American Consumer Institute. She brings an interdisciplinary approach to policy, having received her B.A. in Anthropology from Eastern Oregon University and her M.A. in International Studies from the University of San Francisco. Tirzah has professional experience in economic research departments across various think tanks. (Photo Credit: Twitter)
