Skip to content

Local economics professor weighs in on future of inflation

Inflation may have fallen slightly for the month of August but the sticker shock is not stopping for local consumers. As of August, inflation stands at 8.3% compared to one year ago. Food prices have climbed to 11.4%, and the cost of electricity is up by nearly 16%. However, gas prices are still inches lower.

Experts say external factors like the war in Ukraine and even the lockdown in China are causing supply issues and only worsening inflation overseas.

American International College Professor John Rogers explained that if you can supply goods, and offer them at a reasonable price, that helps. If supply is limited, people bid up the price and that feeds inflation. Professor Rogers advises consumers to continue to ride out the inflation storm, adding that by next year, we may start seeing more signs of it slowing down. Full story is available online at WWLP-22News.

Back to main screen