
Spectrum News 1: Inflation reaches 40-year high
UC professor says rapidly rising costs won’t be a permanent problem
A number of factors have caused inflation to reach a 40-year high, but it won’t be a permanent problem, University of Cincinnati economics professor Asawari Deshmukh told Spectrum News 1.
Asawari Deshmukh, assistant professor – educator of economics at the University of Cincinnati Carl H. Lindner College of Business.
“Very, very high level of supply chain issues, which in the long-term it's not a permanent problem — you can fix it,” Deshmukh, an assistant professor – educator in the Carl H. Lindner College of Business, said. “Given enough time things will adjust.”
In the meantime, Deshmukh encouraged people to buckle down with their budgets.
“Just stay moderate, and as you rightly suggested, weather the storm of high prices,” Deshmukh said. "We hope that most of these price changes, or price hikes, which are caused by supply chain issues, or just the logistics parts of it are sorted out really soon and we get some relief there.”
See more from Spectrum News 1.
Featured image: Shoppers at the Clifton Market. Screenshot courtesy of Spectrum News 1 video.
Impact Lives Here
The University of Cincinnati is leading public urban universities into a new era of innovation and impact. Our faculty, staff and students are saving lives, changing outcomes and bending the future in our city's direction. Next Lives Here.
Related Stories
New York Magazine: Student loan debt pause to end
June 2, 2023
The imminent Congressional budget deal to raise the U.S. debt ceiling included the passage of Senate bill that would end the suspension of student loan debt.
Fox19: UC hosts international aerospace conference on AI
June 2, 2023
UC College of Engineering and Applied Science Professor Kelly Cohen talks to Fox19 about how artificial intelligence is becoming more ubiquitous as it becomes more trustworthy. UC is hosting an international conference on artificial intelligence.
WVXU: Companies are losing ground on DEI efforts
June 2, 2023
Littisha Bates is a featured guest on WVXU's Cincinnati Edition to discuss the topic of diversity, equity and inclusion (DEI) in the workplace. Bates is UC's associate dean for inclusive excellence and community partnerships.