I’m not an economist, but I get the basics of inflation. It’s all interconnected. The price of some essential commodity goes up and it has a cascading effect throughout the rest of the economy. It drives up the price of something and the costs get passed on and on.
Then something else happens that more psychological than economic. Everyone starts using inflation as the excuse for everything.
I go out to eat or get something at the grocery story. Whatever happened to the 12-pack? Now it’s an 8-pack and it’s more than the 12 pack was.
There ought to be a law that says in times of inflation, businesses can only have one option to deal with inflation, you can gouge or skimp, but you can’t do both.