Spectrum News 1: Inflation reaches 40-year high
UC professor says rapidly rising costs won’t be a permanent problem
A number of factors have caused inflation to reach a 40-year high, but it won’t be a permanent problem, University of Cincinnati economics professor Asawari Deshmukh told Spectrum News 1.
Asawari Deshmukh, assistant professor – educator of economics at the University of Cincinnati Carl H. Lindner College of Business.
“Very, very high level of supply chain issues, which in the long-term it's not a permanent problem — you can fix it,” Deshmukh, an assistant professor – educator in the Carl H. Lindner College of Business, said. “Given enough time things will adjust.”
In the meantime, Deshmukh encouraged people to buckle down with their budgets.
“Just stay moderate, and as you rightly suggested, weather the storm of high prices,” Deshmukh said. "We hope that most of these price changes, or price hikes, which are caused by supply chain issues, or just the logistics parts of it are sorted out really soon and we get some relief there.”
See more from Spectrum News 1.
Featured image: Shoppers at the Clifton Market. Screenshot courtesy of Spectrum News 1 video.
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