Inflation, the process by which a country loses value in money with increased prices of goods and services, has been kept in check in every nation to the best of their sovereign powers. According to the Bureau of Labor Statistics, the consumer price index has risen by 7.5%, the absolute steepest price change since 1982 and far worse than economists had previously expected for the coming years.

Food prices have risen by about 6% while energy prices have risen by 27%. According to the statistics, recorded by CNN, “food prices climbed 0.9% in January, compared to just 0.5% in December. Nearly all grocery prices increased, with only nonalcoholic beverages staying flat.”

White House economic advisor Jared Bernstein responded to the critiques against the government from the inflation rates by agreeing with the complaints, saying “anytime you have inflation this elevated, that’s even beating expectations, it’s an absolute challenge for American households.”

For inflation to begin dropping, according to economist statements, inflation has to hit a peak; whether or not we have hit that peak is unclear at the moment, but with this situation moving at the pace it is, the average citizen can expect all the effects of inflation; higher prices and less value for your money.