I don't think hyper consumerism goes deeply enough to answer the question of why we saw prices change so rapidly. We printed trillions of dollars and flooded the economy with new money. We had extremely low interest rates, again creating more new money in the system. We stopped student debt payments, meaning people had more money in their pockets to spend. We also stopped evictions, though you would really have to be a special kind of asshole to skip paying rent so you can buy more random consumer goods.
Its worth noting that printing new money was the actual inflation, inflation is a measure of the increase in the money supply itself. Prices did go up, or you could say the dollar lost value, but price changes aren't actually inflation (prices are tracked by indexes).
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Price rises are tied to higher energy costs, that are linked to the war in Ukraine.
Energy touches basically every corner of the economy. It seems like it'd be difficult to narrow down price increases to just one cause, especially a base resource.
It looks like US electricity costs are up around 10% since 2022. How do you peel that apart to know electricity prices changed first, and that that is what caused all other prices to go up?
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