You may have noticed that filling up your car, going to the hairdresser and shopping for groceries have become more expensive lately. While some things are cheaper than a year ago, overall we are paying more for what we buy. This is what we call inflation. Why are prices going up faster than before? After years of very low inflation, in August, September and October 2021 inflation hit its highest level in 13 years. This is happening for three main reasons: our economy is reopening fast, higher energy prices are pushing up inflation, and something that statisticians call the “base effect”. Our economy is reopening ... (full story)