As the causes of U.S. inflation grow, so do the dangers
- October 17, 2022
- Eric Swanson, economics, Los Angeles Times, Oct. 17, 2022
Rising prices can often lead consumers to switch their spending to other things, rather than cutting back overall. Right now, for instance, Americans are switching more of their spending from physical goods to services. And that shift is evident in the categories where prices are rising. “Most people in America spend pretty much their whole budget anyway,” said Eric Swanson, an economics professor at UC Irvine. “So the money’s going to get spent, it’s just a question of what it’s going to get spent on.
For the full story, please visit https://www.latimes.com/business/story/2022-10-17/as-the-causes-of-us-inflation-grow-so-do-the-dangers.