How’d the U.S. find itself staring down the highest inflation rate since 1990? It starts with the pandemic, our attempts to stave off a recession and COVID-19’s ripple effect around the globe.
Staff and wire reports
- Grocery bills grab the headlines but inflation’s impact is more pronounced in other areas.
- The average price of a car in the U.S. is up nearly 19% from a year ago, when it broke $36,000.
- The costs of getting goods here have skyrocketed, too, with shipping container costs up tenfold.
With inflation at a 31-year high, Americans are feeling the pinch in just about every facet of daily life.
There’s been plenty of finger-pointing from both sides of the political aisle about who’s responsible for the spiraling costs, but as usual with issues that have such a broad impact, the causes are complex.
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