Inflation was higher than expected in January, as prices for consumer goods rose by 0.6% last month, according to the Labor Department.
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- What is a product?
- What is the difference between goods and services?
- What is pricing?
- Why is pricing an important component of the marketing mix?
- What factors influence price?
- What is inflation?
- What causes inflation?
- Based on information from this story, what is CPI?
- What is supply chain?
- How have supply chain issues impacted the CPI?
- According to information from this story, which goods and services category has seen the biggest increase in prices in the last year? Why might that be?
- Based on what you learned from this article, can consumers expect to see the price of goods and services fall in the near future? Why or why not? As a consumer, why might that be important to know?