Are rising prices here to stay?

The cost of basic goods remains high

Stars Insider

02/02/24 | StarsInsider

LIFESTYLE Money

The cost of essential spending has increased exponentially since 2020. If your paycheck isn't going as far as it used to, it's for a number of reasons. The pandemic caused a market crisis, which saw the cost of goods and services rise. Then the labor market tightened as people left their jobs, which saw wages increase. Supply chain shortages occurred because of the pandemic, and when restrictions were lifted the supply of goods couldn't keep up with demand. That was before the Russian invasion of Ukraine affected fuel and food prices globally, or considering that extreme weather events have had knock-on effects for the supply of certain foods, driving prices upwards again.

With all that in the mix, you'd be forgiven for wondering if the end is in sight. With this in mind, click on to discover if prices are going to stay high for the foreseeable future.

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