Why is U.S. inflation so high and when is it going to ease? For months, many economists sounded a reassuring message that a spike in consumer prices, something that had been missing in action for a generation, wouldn’t stay long. Yet as any American who has bought a carton of milk, a gallon of gas or a used car could tell you, inflation has settled in. Retired Ripon College economist Paul Schoofs admits it’s a surprise, but still thinks higher prices will ease in the months ahead. Prices for U.S. consumers jumped 6.2 percent in October, leaving families facing the highest inflation rate since 1990, causing a burden for consumers as the holidays near.
