Citation needed.
It’s the covid era monetary and fiscal policy that screwed us.
Citation needed ;)
But maybe it’s both. And maybe it’s complex. Maybe we’ll never know.
Housing prices and liquid asset prices seem very correlated to covid lockdowns amount wealthy people who couldn’t spend and 0% interest. Much of that asset pricing has reverted now. But stimulus checks and other often cited welfare benefits went mostly to grocery stores and supplanting income that was lost.
The rise in consumer goods prices is due to supplies chain issues like a war and sanctions on an oil producing nation and (my hypothesis) a desire for businesses to raise prices to raise profits to account for declining stock price and changing post pandemic spending patterns.