February 10, 2022
The Boston Herald recently published insight featuring Jay Zagorsky, Senior Lecturer in the Department of Markets, Public Policy, and Law, focusing on the topic of the high inflation rate and associated economic damage that has hit Massachusetts as a result of the pandemic.
The article details the effects of rising inflation on consumers, especially small business owners, in Massachusetts. Large corporations have said they expect supply shortages to persist until the second half of this year, causing many suppliers to increase prices in order to offset the rising costs of transportation and higher employee wages. As a way to beat the surge, Jay suggests consumers rethink the items they are buying and stocking up on by considering those whose prices haven’t increased nearly as much as others.
“While bacon has gone up 18% over the last year frankfurters have increased only 2%. Coffee is up almost 9%, but beer is up less than 2%. And, perhaps most importantly, he added, ice cream is up just 1%.”JAY ZAGORSKY
SENIOR LECTURER, MARKETS, PUBLIC POLICY, & LAW