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Why are we just now feeling the effects of inflation after the COVID-19 global shutdown, which prolonged supply chain concerns and created a low supply of goods? Local Edward Jones Financial Advisor Ryan Painter breaks it down:
As for the rising cost of gasoline, Painter shared the demand was very low during the pandemic, however, the United States backed off production at the same time. Demand then rose and the war between Russia and Ukraine slowed oil imports as well, adding to the low supply and rising prices seen today.
**Written by WMOI/WRAM Director of Communications Kelsey Crain**