We are seeing record gas prices and the highest levels of inflation in 40 years.
There are a lot of questions on how this has already impacted and will continue to directly impact families across the country and our community.Sunday to discuss the current problems with gas and inflation.
“The consumer price index, or CPI, as is called, tracks a basket of goods and services that we all have to consume where we knew we normally consume on an everyday basis. I mean, these are things like food, energy, transportation costs, even some health care services, and energy is a big component of it. And as we’ve seen lately, that’s been a big driver of the consumer price index increasing and what you saw in that 7.9% number.
“In the days leading up to and after the invasion, we saw energy prices particularly spike. But let’s not forget, we’ve been seeing energy prices and gasoline prices tick up for some time. This is not a new phenomenon in the last few weeks. And right now, though, however, because of the conflict curbing Russian imports of oil impacts the supply of oil globally.
Dhillon said we knew not to get used to the gas prices of the beginning of the pandemic, and as more and more people get out and about, the prices will only rise.“With the increased demand because of the easing stance of the Federal Reserve and everybody coming back out of the pandemic, right people coming back into the office is traveling more. That increases the demand for fuel.
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