U. S. News
The inflation is step toward getting back to normal, Arkansas economist say
Conway, Arkansas – The inflation is step toward getting back to normal following the pandemic and the impact on all of us, Arkansas economist say.
We are all seeing higher prices in the last few months and inflation is more than obvious. This is something that also bother politicians, officials and business leaders.
But according to Economist Mervin Jebaraj with the UA Walton College of Business, the current inflation is a largely correction from the extraordinary moves to boost the economy and encourage consumer spending.
“A large part of that is what we would call ‘base effects.’ Again, if you’re comparing April of 2020 to April of 2021, there were a lot of things the prices for which were artificially depressed in April of 2020 because people were simply not doing those things,” he said.
According to him, businesses will have to somehow compensate for the last year’s low prices. For example, hotel prices were low like never before because people were not staying at the hotels. Gas prices were also extremely low because of the law demand.
Jebaraj says it’s normal to see prices on some items to increase, like flight tickets, as this is normal economic movement to fully recovery for some businesses.
Read the full interview here.
-
Local News2 weeks ago
Record-breaking attendance marks the end of the Arkansas State Fair
-
Local News2 weeks ago
Locals and city officials in Little Rock discuss the one-cent sales tax that will be on the ballot in November
-
Local News1 week ago
Scenic Hill Solar and the University of Arkansas System collaborate on the biggest solar installation in the state
-
Local News2 weeks ago
Officer Norman goes to see Legaci, his closest friend
-
Local News1 week ago
Simmons Bank Arena will host Winter Jam 2025
-
Local News1 week ago
Ken Duke, Arkansas pro golfer, excited to share home state with the world’s finest PGA Champions
-
Local News2 weeks ago
P!nk fosters dog while on tour in Minnesota after it was rescued in Arkansas
-
Local News2 weeks ago
Hot Springs is a popular travel destination as Arkansas tourism grows
Leave a Reply