Consider This from NPR Why Everything Is More Expensive Right Now
Jun 14, 2021
Scott Horsley, NPR's senior economics correspondent, breaks down the reasons behind skyrocketing prices affecting everything from computer chips to rental cars. He discusses how post-vaccine demand is straining global supply chains and the challenges of the semiconductor shortage impacting the automotive industry. Horsley highlights efforts by the Biden administration to stabilize prices and boost domestic manufacturing. Expect insights into inflation trends and how consumers can navigate these turbulent economic times.
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U-Haul Rental Surge in Hawaii
- Tourists in Maui rented U-Hauls due to high rental car prices, exceeding $700/day.
- This shortage prompted Hawaii's tourism board to discourage U-Haul rentals for leisure.
Inflation Tied to Supply Chains
- Rental car prices have doubled nationwide, along with other goods like used cars and groceries.
- Treasury Secretary Janet Yellen believes these price hikes are temporary and tied to supply chain issues.
The Chip Shortage's Impact on Car Production
- Computer chips are now crucial car components, found in engines, brakes, and even tires.
- A chip shortage, caused by canceled orders and increased demand from other sectors, is impacting car production.