Cost of living is on the rise, but when will it end?

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FRESNO, Calif. (KGPE) – You’ve probably noticed that the cost of everyday items has been on the rise in the last year.

Nik Redmond a Financial Advisor for the Ford Financial Group says there’s a lot of things that are contributing to the rise in prices but there is one core issue.

“Most simply it can be looked at as a supply and demand issue so the supply of goods has been constrained by logistical issues with the supply chain,” he continued. “Then the other side of that is the demand, the pent up demand, for the past you know 18 to 24 months with the pandemic people haven’t been able to do things and now as people start to get back to normal they want to spend the money that they got,” Redmond said.

Redmond says the inflation could last for a while.

“Yeah certainly some of the prices can stay sticky and high for a while, a lot of economists are saying that we could see these larger inflation numbers that have been going up for, you know into the summer into the mid-year, and then kind of gradually coming down again as the supply chain issues get worked out,” he said.

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