According to WCCO,听McDonald’s,听Chipotle, Netflix, Amazon, John Deere and more have all recently announced they are raising prices. So why are things getting more expensive?
To answer this question, WCCO’S Heather Brown spoke with听Augsburg鈥檚 Business Department Chair Jeanne Boeh.听鈥淧rices are going up partly because people have more income,鈥 Boeh said.
There are two main ways for inflation to occur, Boeh explained to WCCO. The first is called 鈥渄emand pull,鈥 and that is when people have more money, they demand more and, in turn, businesses charge more. The second way is 鈥渃ost push鈥 inflation, when the inputs 鈥 like gas or wages 鈥 that go into a making a good or service rise.
See the full interview on the .