….. and it’s not even based on timing. Over the past year or so, we’ve noticed how prices have gone up in what seems to be a targeted attack on us poor consumers. Whether it’s food, petrol, utilities or even just simple nights out, someone is making out big-time and we’re the losers. But one big sore thumb that sticks out and is very obvious is travel. For sure, raising prices has been a staple of how airlines operate, but lately it appears that the battle is on between consumers and the travel suppliers. The video below, courtesy of the CBC, goes into some detail about it. Likely, you won’t be happy with the outcome. Perhaps we all should do something, all together, all at once. That will get some attention.
One old chestnut is that the COVID-19 pandemic disrupted global supply chains, and recovery has been uneven. Persistent supply chain issues, including transportation bottlenecks and shortages of key materials, have driven up costs for many goods and services. But that was a while ago. And Covid is over. Relating to that, as economies recover from the pandemic, consumer demand has rebounded strongly in many areas. When demand outstrips supply, prices tend to rise (but how much and for how long, we have to ask?)
Ongoing geopolitical issues, such as the conflict in Ukraine and tensions in other regions, can disrupt trade and energy supplies, leading to price increases. With any luck, this will abate: stay strong, Ukraine.
What can we do? Well, as we come out of this whirlwind of problems, we need to stay smart, stay strong and keep an eye for the snakes that crawl through our daily financial lives. Watch the video above.
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