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Hawaii residents feel the burden of rising prices as pent-up demand drives up costs
HONOLULU (HawaiiNewsNow) - The cost of US consumer goods shot up 5.4% in the past year — the highest its been since 2008, according to the Labor Department.
From groceries to gas, consumers will pay higher prices. But economists say this is temporary as the nation recovers from the pandemic.
Still, pent-up demand is driving prices up quickly.
“The pandemic has disrupted production and distribution, what we call supply chains,” said Paul Brewbaker, an economist with TZ Economics.
Read more: https://www.hawaiinewsnow.com/2021/07/15/hawaii-residents-feel-burden-high-inflations-rates-pent-up-demand-drives-up-prices/