Episode 246: What’s Causing the Rise in Prices?
Newt's World
Gingrich 360
4.6 • 6.4K Ratings
🗓️ 12 May 2021
⏱️ 32 minutes
🧾️ Download transcript
Summary
Inflation is a hidden tax. It is a powerful and often unseen and unstoppable way for a government to pay for its goods and services without raising visible taxes that make people angry. Gas has skyrocketed. Since February, prices of fruits and vegetables have risen, and the index for meats, poultry, fish and eggs has also risen. Newt’s guest is Dr. Jayson Lusk, Distinguished Professor and Head of the Agricultural Economics Department at Purdue University.
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Transcript
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| 0:35.0 | On this episode of Neutral, we're going to be looking at the rise in prices, |
| 0:39.8 | the potential threat of inflation, and what Americans should pay attention to in the upcoming economic news. |
| 0:47.4 | Inflation is a hidden tax, it is a powerful and often unseen and unstoppable way |
| 0:53.4 | for a government to pay for its goods and services without raising visible taxes |
| 0:58.2 | that make people angry. |
| 1:00.2 | Gas skyrocketed by 9.1% last month. |
| 1:03.8 | Since February, prices of fruits and vegetables have risen by nearly 2% |
| 1:08.6 | and the index for meat's poultry fish and eggs has risen by 0.4%. |
| 1:14.2 | Before the pandemic began, the national average for a pound of bacon in January 2020 was 472. |
| 1:21.4 | By last month, the price had soared to $5.11. According to exclusive supermarket point of sale data |
| 1:29.8 | from Nilsen IQ, ground beef is up to $5.26 per pound from 502. |
| 1:36.2 | Bread is up to $2.66 a loaf from $2.44 and the price increases are more in certain cities and geographic areas. |
| 1:44.6 | Here to help us make sense of what is causing the rise in prices and what we should expect for the future |
| 1:50.6 | is my guest, Dr. Jason Lusk. |
... |
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