People forget that prices don't rise automatically. Businesses decide to raise prices. There isn't some magical force called inflation cuasing prices to go up. It's human decision-making all the way down.
People forget that prices don't rise automatically. Businesses decide to raise prices. There isn't some magical force called inflation cuasing prices to go up. It's human decision-making all the way down.
Human decisions but usually with external factors: increasing costs, pressure to grow, etc.
If they could get away with raising price just because they feel like it they would do it earlier and more often.
Post COVID is a great example of this in action. They DID raise prices because they could. What keeps prices low is competition. But again, it's not automatic. Look at Arizona Ice Tea as an example. All price rises are business decisions with a person behind it.
Have you ever run a business?
Yes and all the price decisions are done by a person. Lowering prices, increasing prices, these are all decisions. Nothing is automatic.