Globally, the prices of many items are soaring due to various factors. Here are some major examples:
1. Crude oil and energy: With the global Prices of crude oil and energy have been rising amid the gradual recovery of the economy and supply shortages.
2. Metals and building materials: With the recovery of the real estate market and the increase in infrastructure and construction projects, the prices of metals such as steel, copper, aluminum, and building materials such as wood and cement are also rising. .
3. Food and beverages: Global climate disasters, supply chain problems and rising commodity prices have led to rising prices for many foods and beverages, such as corn, soybeans, coffee, chocolate, etc. .
4. Semiconductors and electronic products: The shortage of semiconductors around the world has led to an increase in the prices of many electronic products, such as smartphones, computers, and game consoles.
5. Medical supplies and drugs: As the COVID-19 epidemic continues and the demand for medical equipment and drugs increases globally, the prices of medical supplies and drugs are also rising.
The following are some reasons that may cause things to become more expensive:
1. Rising commodity prices: Certain commodities such as oil, metals, grains, etc. are called commodities, and their prices Usually affected by factors such as supply and demand, geopolitics. If commodity prices rise, prices of related products such as fuel, food, etc. may also rise.
2. Disruption of production and supply chains: The production and supply chain of some commodities may be interrupted due to factors such as natural disasters, political unrest, traffic paralysis, etc., resulting in insufficient supply and thus rising prices. For example, during the COVID-19 epidemic, traffic restrictions and business suspensions in many countries have resulted in insufficient supply of some commodities and increased prices.
3. Currency depreciation: Currency depreciation will cause the price of imported goods to rise because more local currency is needed to purchase the same imported goods. For example, if a country's currency exchange rate falls, residents of that country will have to pay more in local currency to purchase imported goods.
4. Monopoly or oligopoly: Certain goods may be monopolized or oligopoly, which means that a few companies control the market share and can obtain higher profits by raising prices. In this case, commodity prices may rise rapidly.
5. Significant increase in demand: If the demand for a commodity increases significantly and the supply cannot meet the demand, the price will rise. For example, during the holidays, ticket prices for tourist attractions often increase.