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Prices that everybody must pay are the ones that affect the economy the most.  For example, food and gas are prices that everybody must pay, so they have a big impact on the economy, while the price of diamonds will only affect a few people, and so have less of an impact.   Money Smart Kid

The reason that prices keep going up is due to inflation.  Generally, inflation is about 2% a year, but sometimes it is higher.  Even at 2% per year, this can still add up over the long term (prices will double about every 35 years).  This is why things are more expensive now, especially compared to the ...

There are numerous reasons for inflation. Inflation just basically means a rise in prices. For example, with our current inflation rate of around 3%, a $100 item today may cost you around $103 next year. Think of 100 items you want to buy in the future. Prices for those 100 items are affected by inflation. Money Smart Kid