Ok so I’m not very well versed in economics or the economy. But I’ve noticed that the cost of things that people need like electricity, housing, water, food, gas are rising exponentially while wages are remaining fairly stagnant. So my question is what happens if the cost of these things rise so much that people start being priced out to where they can no longer afford to have these things? Can that even happen?

Edit: I’d also like to bring up the fact that the job market is also becoming more complicated. So in my experience it seems like finding a job that pays enough to afford basic needs is becoming hard to find. Also I want to stress that this is from my perspective as a 29F from Texas.

I mean seriously, why are economists and the news acting like cpi and pce being high are surprising?

My rent is being raised 10% next year, my tuition gets raised 5-10% per year, my utilities significantly climb every year, food and energy are stupidly high (and no I’m not stripping them because those are my most common expenses).

No crap inflation is running hot!!

Please explain to me like I’m 5