Inflation and the Price Trends in America

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For this reflection, my first article will be one by Duguid et al 2022 regarding the rising prices of consumer commodities in the country. From their argument, it is clear that there has been an incremental trend in the prices of goods and services in America which also triggers a heightened rise in inflation especially in the beginning of the year. The authors argue that particularly the prices of second hand cars have continued to rise, resulting in higher inflation rates. In their analysis, the researchers indicate that due to the covid19 pandemic many people, in an attempt to cut costs, have opted for cheaper options such as second hand cars, which in turn has increased their demand and ultimately their prices. As a result of high inflation, there is notably higher consumer price index and lower household disposable incomes. Arguably, many people, during the pandemic and in the current year have lost their jobs or income generating activities and this has resulted in lowe...