We’re not sure, but if we were to bet, we’d say it probably will lead consumers to buy less-expensive brands for a while. That 8.5% rate is the highest in four decades, and is blamed on skyrocketing energy and food costs, supply constraints and strong consumer demand stoked by the anti-Covid measures of the last couple of years.
Measures being taken by politicians — whether they are gas tax holidays or, as President Biden called for yesterday, increasing teh ethanol percentage in gasoline to 15% from 10% — won’t make any difference.