As the economy reopens and people start to open their wallets again, prices will increase for everything from meat and home- improvement products to airfare.
As demand increases, supply often decreases as supply chains slowly come back to life.
Meat has reached a record high price increase due to the booming of restaurants, according to Stew Leonard Jr., president and CEO of the grocery store chain Stew Leonard’s.
Similarly, home improvement materials have also had record price increases. John Moore of J&D Fence Company noted that fence materials have tripled in price.
Airlines have seen a huge increase in passengers. Ed Basitan, CEO of Delta Airlines, predicts the cheap prices of 2020 will rise as airlines program more flights to meet the demand.