Tucson, Arizona 2021-10-21 02:19:56 –
Tucson, Arizona (KGUN) — Inflation is rising across the United States and here in Arizona, but local experts say you don’t have to worry too much.
Jesse Agiar, owner of the moccasin shop, says his labor process takes longer than usual.
Jesse Agial, co-founder of the San Agustin Trading Company, said:
It took more than twice the average time to get his supplies.
“I can’t do anything about it, so I just have to wait,” Agiar said.
Consumables are also becoming more expensive. Aguiar says leather prices have risen just 10% last month. He says those costs will ultimately impact customers.
“We haven’t retailed yet, but it’s probably just after Christmas,” Agiar said.
Aguiar is one of many business owners who have to raise prices. Last year, the consumer price index rose more than 5% in major cities in the United States and Arizona. It’s not like the 13% inflation rate of the 1980s, but it’s something Americans haven’t seen for a while.
Dr. George Hammond, director of the Center for Economics and Business Studies at the University of Arizona, said:
Dr. George Hammond of the University of Arizona states that there are several reasons for rising inflation. The first is a combination of high demand and low supply for goods.
“The higher levels of federal support for the state have allowed people to spend more money, and supply-side problems affecting a variety of goods and services have arisen,” said Dr. Hammond. I am doing it. “
Hammond says these supply issues come from the rapid transition to online shopping during a pandemic.
“I think it will take some time to reorganize these supply chains so that the goods go through the warehouse and then the delivery service,” said Dr. Hammond.
We need more employees due to the high demand for our products, but many are rethinking their jobs after spending a lot of time in quarantine.
“A pandemic causes confusion in our normal routines, and when those routines get confused, it takes time to get back to normal,” said Dr. Hammond.
Hammond predicts inflation will exceed 2% for about a year.
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Tucson businesses respond to rising inflation, higher prices Source link Tucson businesses respond to rising inflation, higher prices