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Everything’s more expensive!! Pet care!! Concert tickets!! (Two Indicators)
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People in the U.S. are feeling the financial squeeze, in part because of rising inflation, higher consumer prices and slowing job growth. The Indicator from Planet Money is tackling a special series on the rising cost of living. Today, two stories from that series. First, what’s making ticket prices go up? We look at the economics behind the ticket market and how “reseller bots” are wreaking all sorts of havoc. The industry is not a fan, and yet they do serve an economic function. And… why pet care costs have surged. It comes down to unique skills, people’s love for their pets and something called the “ Baumol effect .” Related episodes: - The Vet Clinic Chow Down - What Do Private Equity…