Inflation here? gas/grocery prices just continue to climb

Craigj said

Good question. As lower wage workers keep getting raises (well deserved and overdue) at what point does someone working a crappy office job say fork it, I'm going work for Costco. Middle class wages don't seem to be keeping up. These are interesting times for workers.

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my fear is that the higher prices we see currently due to "shortages" in supply will be permanent at some point.

I remember when gas was $1/gal ( sometimes under $1) then spikes to $1.50- the explanation? oh its because oil prices climbing.

ok makes sense. But then oil prices sink. But the resulting lowering of gas was around $1.20. Not back to $1.

Repeat that 3-4 times in last 20 years and now we are HAPPY when gas is $2.25/gal.

I fear the same with many other things now will slowly work its way into the price point for many commodities.