If you think prices are going up on many of the things you need to buy, you’re not wrong…
CNN Business says some price increases start at the source, where wholesale prices for products from lumber to corn and cheese are rising. In the grocery aisle, eggs, meat, fish and milk are all up four percent this year. A shortage of computer chips is inevitably pushing up prices for electronics and appliances. And, diaper prices have risen sharply and are going higher soon.
Economists can’t agree on whether it’s a short-term problem as we transition to a post-lockdown world or if it’s a longer-term problem.
We can expect higher gasoline prices by late this week if the giant Colonial Pipeline isn’t up and running again soon. The pipeline, which stretches all the way from Texas to New Jersey, shut down last Friday after it was targeted by a ransomware attack on the system’s computer network. Officials are calling it the worst cyberattack yet on U.S. soil. A hacker’s network called DarkSide that operates out of Russia is a major suspect.
