Here is a breakdown of what has fueled inflation each month since the start of last year.
But other inflationary problems have more to do with the complicated trends of the coronavirus pandemic, leading to price hikes that ebb and flow. Money that might have paid for in-person services like gym memberships went instead to at-home fitness equipment. When coronavirus cases fell, people flocked to travel. When they rose, eating out was swapped for groceries.
Businesses didn’t always have enough stock on hand to meet the demand and couldn’t make or ship goods fast enough to catch up. So some prices skyrocketed, often for items that weren’t a major part of a family budget.But that changed this year, when inflation began to spread into nearly every facet of the economy.
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