Inflation is the price of buying products and services and that price is going up over time. And to some degree, inflation at a reasonable amount makes sense. However the latest numbers - 7 or 8 percent is quite high.

This is happening for a number of reasons but fundamentally inflation is going up because there's more demand for existing products/services than there are available products and services. So why all of a sudden do we not have enough products and services to meet the demand? Part of it is because the supply chain has been diminished while demand has been going up. The supply chain started to diminish during Covid. People were not consuming as many products and services so companies started slowing down their production.

You had manufacturing that started laying people off. Manufacturing facilities started slowing down production. So now coming out of covid now you still have all of the supply chain that has not caught back up to what it was pre-covid.

Fundamentally we've got less supply and a whole lot of pent up demand that's now coming out.

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