2007-09-28 15:57:51 · 5 answers · asked by Anonymous in Social Science ➔ Economics
The price of oil, agricultural products, and imports ( because of the fall of the dollar) are all up. However the change in the retail price will be much less because much of the prices we pay are due to processing and marketing costs and the price of housing and some high tech items will go down. We will see some inflation but nothing like the 70's.
2007-09-28 17:21:42 · answer #1 · answered by meg 7 · 0⤊ 0⤋
In 1970, my parents bought a 3 bedroom house for $30,000. In 2000, my brother bought a minivan for $30,000. Inflation happens.
2007-09-28 16:08:28 · answer #2 · answered by Linda 4 · 0⤊ 0⤋
Inflation is caused by a surplus of demand and a lack of supply...Given the way markets have been behaving lately,and Ben Bernanke's lack of response. I think we can expect a "full on" recession.
2007-09-28 18:29:52 · answer #3 · answered by Grasshopper 5 · 0⤊ 0⤋
Yes we are Joe, fuel, heating, food, transportation, its all bad.
2007-09-28 16:20:41 · answer #4 · answered by shepgg 3 · 0⤊ 0⤋
yes, we are.
2007-09-28 16:01:27 · answer #5 · answered by Anonymous · 0⤊ 0⤋