Cause of Inflation Prices Around the Nation

Cause of Inflation Prices Around the Nation

Josh Rodriquez, Feature editor

Inflation has been seen in our everyday lives recently, gas prices have been getting bigger, simple things like nail polish and food are rising to almost double their price. Why is this happening? What’s the how and why to the rise in prices not just in the US but the rest of the world.

On Thursday, February 24th, 2022 Russia had invaded Ukraine. While this isn’t going to be a piece about the Ukraine and Russia war I would like to put it on the record that in order for the countries in NATO to hurt Russia without provoking them into total war sanctions to hurt their economy was the best route to take. 

Sanctions that were placed over Russia are an effective way to disable Russia’s economy and thoroughly damage their future. However, Russia exports around 300 million tons of oil along with 250 billion cubic meters of gas. With the sanctions in place, all of these exports cease to be exported to the rest of the world, This being one of the main and direct causes to why the gas prices in not only the US but the rest of Russia’s trading partners which plays a role in the inflation.

  The rise in cost with oil and gas has caused prices to go up in that area, with rise in gas other markets such as retail and grocery have to follow the rising trend otherwise they begin to start losing cost and a loss in profit.

 

I’m not claiming to 100% know why the total market price has risen but I feel that following the rise of gas and oil prices that came with putting sanctions on Russia would be the most sensible conclusion to come too.