Looking at global gasoline prices, we can see that what we spend for a gallon is much less than people pay elsewhere.
Suggesting causation, people are pointing out that as gasoline prices go up, more drivers are stranded with an empty tank.
While ascending food prices could encourage us to buy less of certain breakfast items, the impact of coffee inflation could be different.
We can see that our inflation concern has become inelastic when we look at the basic groceries that are more expensive.
Seeing that barrels of crude oil are increasing expensive, we can ask if and how quickly our gasoline prices will respond.
Looking at extra fees, we can say that airline seats, hotel rooms, and Disney World rides are somewhat similar.
Since one state’s gasoline prices could be double what people pay in another state, we can ask if the price affects how much we purchase.
Although many of us express a willingness to pay more for green products, a close look reveals that price can still have a big impact on our decision.
Reese’s Peanut Butter Cups and Coca-Cola are just two examples of higher consumer prices because transport and ingredient costs have gone up.