Summary of Why are prices going up? - 6 Minute English

00:00:00 - 00:05:00

The presenter explains what inflation is and how it affects the economy. They discuss the two main reasons for inflation: the Covid pandemic and the war in Ukraine. They also interview an economist who explains the best way to combat inflation.

• 00:00:00 In this 6 Minute English video, Rob and Beth discuss why prices are going up and how inflation may be affecting the economy. The two main reasons cited are the Covid pandemic and the war in Ukraine, which have both caused a decrease in the availability of essential goods. Linda Yueh, an economist who was interviewed for the "The Real Story" programme, says that the best way to combat inflation is to slow down demand. By increasing interest rates, banks can discourage people from borrowing and the economy can start to slow down.
• 00:05:00 In this video, the presenter explains what inflation is, how it works, and what it means for the economy. They also discuss interest rates and how they are related to borrowing money.