Inflation

According to the Wall Street Journal, inflation has escalated to a 40-year high at 7.5%. One school of thought is that consumer prices are going up but corporate profits are increasing even faster. Please find two articles written in the last year that describe the causes of price inflation and describe how it does or does not impact demand for products that consumers regularly purchase. In each case, determine if the price increase is justified or if it is the result of the concept of the “invisible hand” whereby providers of goods are increasing prices for personal gain at the expense of consumers.

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