Inflation is at a 40-year high. Where are Americans seeing big price hikes?
Used cars 40.5% y/y
Rental cars 29%
Utility gas 24%
Peanut Butter 15.5%
New cars 12%
— Heather Long (@byHeatherLong) February 10, 2022
Did all of these industries become monopolistic at roughly the same time last summer and raise their prices out of greed, as Elizabeth Warren and other progressives apparently want us to believe? Or did the combination of a record increase in the money supply, an increase in personal income, disincentives to work, and supply-chain constraints make everything more expensive?