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“We feel super rich,” one visiting couple said.
When conditions leading to inflation ease, don’t get your hopes up that prices will go the other way.
Raw material and shipping expenses have shot up. But price hikes aren’t the only way business owners can cover their costs.
The cost of commodities has gone way up, and spendy raw materials suggest more inflation in 2022.
“How do you set your price when you don’t know if it’s going to be $12 a pound or $37 a pound?” says Togue Brawn of Downeast Dayboat.
It all depends on how much inflation the central bank sees in the economy.
The rising cost of food is hitting restaurants — and they can only raise prices so much before customers balk.
Higher wages and low unemployment are good news to people. Inflation isn’t.
Despite good economic data like GDP growth, many Americans are not optimistic.
The central bank will scrutinize the employment cost index for 2021’s fourth quarter for signs that rising pay could fuel rising prices.