Inflation Causes Debt Concerns

Businesses and families alike are experiencing the pain of inflation, and not just at the pump. Besides high gas prices, costs are rising around for everyday essential items from the costs of food to municipal expenses. The rise in inflation is not just a United States problem, as the high costs of energy and supply chain disruptions are spanning the globe.

In Hungary, local food markets are increases their prices causing many families to evaluate their consumption levels. Shoppers are now altering their behavior to look harder and farther for cheaper food prices; while also consuming less than average overall.  To make matters worse, many retailers are ditching some common goods from their inventory simply because the items aren’t as easy to procure or as profitable as other items.

The rise in inflation can be a sign of strong economic growth, but with a balance. Current experts are concerned about the long lasting effects of the recent rapid increase in inflation; and are extra caution for economically developing countries like Hungary who are expected to be hit the hardest by the turbulent supply and demand levels. Not only are some countries more at risk than others, but nearly all consumers are at a high risk of debt problems as a result of inflation.

Original article: https://apnews.com/article/coronavirus-pandemic-lifestyle-health-business-poland-f559465c6a822d12b2dd513f122d5a31