Prices for goods and services increased 7% in the last year, the highest inflation rate in nearly four decades.

@j_dingdingding spoke with economists to understand what’s happening.…
What’s driving inflation?

Two words: supply chain. Consumers are eager to spend, and suppliers aren’t able to keep up with the demand.

COVID caused enduring problems with the shipping, unloading and delivery of goods around the country.…
A shortage of semiconductors has limited car production, which in turn has raised used car and rental car prices sharply.

The pandemic also saw a wave of bankruptcies among U.S. oil producers as the economy briefly came to a standstill.…
About half of the total inflation can be attributed to higher prices for cars and energy, the BLS reported.

The other half: food, housing, furnishings, appliances and other goods, all of which are affected by pandemic-related supply problems.…
Is anyone benefiting from inflation?

For mortgage holders, the value of their homes is increasing, but their mortgages are locked in at a low interest rate.

Suppliers of construction and manufacturing materials (ex: lumber) are also doing well.…
How is inflation affecting the job market?

With U.S. unemployment at a record low and companies scrambling to fill jobs, workers have bargaining power for higher wages, experts say.…
What is the Federal Reserve doing about inflation? When can we expect relief from higher prices?

@j_dingdingding answers these questions and more:…

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More from @latimes

14 Jan
It started with a small plane crash in the woods and became a national obsession. #Yellowjackets, which ends its first season on Sunday, has become a north star for TV viewers since it premiered on @Showtime in November.…
Part survival drama, part witchy mystery, it follows the members of a girls high school soccer team — and, 25 years later, the grown-up survivors — who get stranded in the wilderness for 18 months after their aircraft goes down on the way to a tournament.…
The show has been lauded for its captivating mystery, as well as its portrayal of memory and trauma.

A therapist breaks down how a pivotal moment in episode 9 perfectly captures PTSD ⬇️…
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14 Jan
Breaking: About 130,000 LAUSD students — approximately one-third of district enrollment — have been absent from school during the first days back from winter break.…
Teachers and employee absences have remained high, so administrators and substitute teachers have stepped in. All schools have remained open for in-person learning this week.

Supt. Alberto Carvalho said the district will continue to push information that schools are safe. Image
Supt. Alberto Carvalho said the issues confronting LAUSD are also hitting his home school district of Miami-Dade County Public Schools, with disruptive school conditions elevating student absentee rates and squeezing an already tight labor market.…
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14 Jan
Mountain resort areas like Big Bear have long been vacation destinations. But during the pandemic, the number of visitors has spiked.

And while the influx of visitors bodes well for the local economy, it has strained the Bear Valley’s workforce.…
Throughout this winter season and last, residents, workers and business owners in Big Bear have dealt with increased exposure to the coronavirus, understaffing, shortages of essential services, housing shortages, traffic and parking congestion, and litter. Image
“We are experiencing, in a microeconomic sense, the problems that everyone else in the whole country is experiencing,” said Ellen Clarke, executive director of @ChamberBig.

“Only in our small community, we have a very little population, and it hurts — it hurts a lot.” Brody Barr helps customers ...
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14 Jan
Los Angeles Homeless Services Authority announced Friday that it was delaying its annual homeless census by a month because of the risks posed by the Omicron variant of the coronavirus.…
Authorities in Los Angeles canceled the homeless census last year during the winter surge of COVID-19.

As a result, officials have had trouble getting a handle on how the pandemic has influenced the size of the region’s homeless population.…
Roughly 7,000 volunteers had been scheduled to fan out across the county to undertake the count over three days later this month.

Now the task of counting tents, cars and other structures will take place Feb. 22-24. Image
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14 Jan
This 90-year-old family business acts as a supermarket to ships and seafarers — an especially tough task these days.

@RonWLATimes reports on what it’s been like for Harbor Ship Supply amid the COVID-19 pandemic and global supply chain crisis.…
When ships arrive from distant ports, Harbor Ship Supply is called upon to restock them with a wide variety of goods, including groceries, tools and all manner of gifts for sailors' friends and family back home.

“You name it, we’ve delivered it.”…
Harbor Ship Supply is trying to stay afloat, facing challenges that some experts say won’t ease this year.

Some say the global supply chain that moves goods from raw materials to factories to consumers’ homes has been permanently altered.… Image
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13 Jan
“California’s Board of Parole Hearings recently found that Sirhan is suitable for parole. I disagree,” writes @GavinNewsom for @latimesopinion.…
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“Kennedy’s assassination not only changed the course of this nation and robbed the world of a promising young leader, it also left his 11 children without a father and his wife without a husband.”
Read 7 tweets

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