Unless you were old enough to have wanted to buy something like a car or a home or had a vehicle you needed to fill up with gasoline late in the 1970’s you may not realize that it appears that history is b beginning to repeat itself as inflation the likes of which we haven’t seen in well over a decade is becoming increasingly real in America.
Word that the consumer price index rose substantially in June tells only part of the inflation story, since many of the things we want and use aren’t included within the numbers that make up the index.
Since there’s little agreement on much of anything these days, it should come as no surprise that the so-called experts don’t agree on the cause or causes of inflation.
Some blame the recovery from the pandemic and pent up demand for products and services.
Others blame what they see as run-away spending by our federal government.
It does appear that inflation is something we’re going to have to deal with for a time, but those of us who remember double-digit borrowing interest rates and prices that seemed to go up every week in the 1970’s are hoping it’s a trend that won’t last long.
That’s the way I see it.