Inflation is normal. But anyone having trouble stomaching their recent grocery bills knows prices started increasing much faster than we’d like. Small changes in the inflation rate can have big impacts on consumers, businesses and the government. Even as inflation starts to cool, we might all be paying more for a little while longer. Watch to learn more about some of the factors that can lead to rapidly rising costs and what steps are taken to get the situation back under control.
Explore the topic further in our Fiscal Notes article, “Inflation and the Economy.” The Comptroller’s 2024-25 Biennial Revenue Estimate, noting an especially unusual economy, also included a close look at how inflation is impacting government tax revenues.