Inflation, explained: Why prices keep going up and who’s to blame
Inflation, explained: Why prices keep going up and who’s to blame Confused about inflation? You’re not alone. Inflation is, paradoxically, both incredibly simple to understand and absurdly complicated. Let’s start with the simplest version: Inflation happens when prices broadly go up. That “broadly” is important: At any given time, the price of goods will fluctuate based on shifting tastes. Someone makes a viral TikTok about brussels sprouts and suddenly everyone’s gotta have them; boom, sprouts prices go up. Meanwhile, sellers of cauliflower, last season’s trendy veg, are practically giving their goods away. Such fluctuations are constant. Inflation, however, occurs when the average price of virtually everything consumers buy goes up. Food, houses, cars, clothes, toys, etc. To afford those necessities, wages have to rise, too. It’s not always a bad thing. In the United States, for the past 4...