Inflation is when the general price of something increases. There has been inflation in the U.S. and I believe that we have recently gone through inflation. The only items I really pay attention to recently were the price of eggs and gas. Gas may be of different reasoning like shortages in gas, or the prices in oil increasing causing gas to increase. Today the average price of gas per gallon is about $3.255 (varies depending on the area and type of gas customer chooses). However just four months ago gas did not reach $3, in April gas was $2.800. Last year gas was about a whole dollar less than it is now, gas was $2.272. The year before that( 2019) gas was $2.707. the highest gas has ever gotten on an average was $4.114, this was in July of 2008. This was because of an oil shortage. Eggs I do not have as much as hard facts of evidence other than my own experience. A case of 60 eggs at Walmart used to cost about $2, this was last school year. This year it rose $2, now the price is about $4.50. I feel like when it comes to gas policymakers should not inflate the price so much. I understand that there needs to be a profit somewhere but at the same time, they do not have to increase the price so heavily for the increase they want. I would think this was okay if they were not getting money from some other "scheme". They should lower the prices back down to a reasonable price, it shouldn't cost $60-65 to fill up a 4 door sedan. Policymakers are not lowering the prices, they continue to rise heavily in the last couple of months.
“U.S. All Grades All Formulations Retail Gasoline Prices (Dollars per Gallon).” U.S. All Grades All
Formulations Retail Gasoline Prices, 2021, www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=m.
One thing that did not help the gas prices was the "shortage" we encountered a few months ago. Supply and demand caused them to spike their prices, and they've never been the same since.