More competition could help with inflation. How would that work?
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Economists say inflation is being driven by a number of factors, from supply chain disruptions to higher wages. But what about competition? In the food industry, restaurants that face more industry competition aren't able to raise prices as much as food-at-home services. We spoke to Trevon Logan, a professor of economics at Ohio State University who helps us break down how a lack of competition in some markets could be contributing to rising prices.
Segments From this episode
Companies facing few competitors can hike prices more easily than those in competitive markets.
Homebuilders already face higher prices for materials. More expensive loans could affect construction for years.
David Brancaccio Host
Victoria Craig Host, BBC
Stephen Ryan Producer, BBC
Jonathan Frewin Producer, BBC
Jay Siebold Technical Director
Jesson Duller Media Producer
Meredith Garretson Producer
Erika Soderstrom Producer/Director
Rose Conlon Producer
Alex Schroeder Producer
Redmond Carolipio Digital Producer