COLORADO SPRINGS – Inflation is on the rise since November 1981.
The Consumer Price Index shows it up 9.1 percent last year, which contributed significantly to food, gas, and rent. The energy level rose by 7.5 percent per month and contributed to almost half of all things increased.
“I don’t think it’s too bad,” said Naqiera Johnson, a Colorado Springs resident.
Forcing many young people like Johnson to change their habits.
“I still love going out and enjoying myself but a little bit now. To make sure I can afford to buy my own things, and to live my daily life,” Johnson said.
“At the end of the day, people make decisions based on household income. If they spend 10, 15, or 40 percent more energy than they did a year ago.
Bailey believes we are close or maybe we have already reached a climax. He does not expect it to rise, but says there are many changes to consider such as the Russia-Ukraine War, trade issues, staff shortages, and the closure of COVID from major economies such as China.
“Some of the reasons I say are near or at the root are due to what economists call the” baseline effect “. This means that we are comparing it to last year. , prices started to rise in April 2021, and started in the summer last year. Prices are not a problem going forward and falling every month. The biggest increase we saw last summer, “said Bailey.
Lower prices are a big factor in homeowners. The risk of allowing an early ascent to the epidemic before, is an increase.
“Certainly a worrying part of the issue of middle and low income earners being evicted or losing their homes,” Bailey said.
They do not believe that recent interest rates can help or reverse the trend.
“It will reduce some of the demand, especially for housing and finance for major household items such as cars, washing machines. It will help others, but it will not solve the problem. It will not solve the problem. “With these new species, it does not eliminate the fact that people began to have all of these. children in their 60’s and 70’s, or less unemployed,” said Bailey.
They recommend being more careful, reducing driving, and adjusting the electric car.