The pandemic has been hard on many parts of our lives, and the economy is no exception. The world is currently suffering from a supply chain disruption that has halted trade, increased scarcity, and shot up shipping prices worldwide- according to the New York Times, shipping a container from Shanghai to LA today would cost over twelve times what it cost before COVID.
Almost anything that is manufactured is affected by the crisis. Due to an increase in disposable income during 2020 and 2021, lots of Americans are spending more on things like cars, computers, and video game consoles (especially since the release of the new consoles last year.) Coupled with shutdowns en masse of factories during the pandemic, this has led to a shortage in nearly every product imaginable, from food and textiles to computers and cars (which require computer technology.)
The worrying part is that this supply chain disruption is likely to continue until at least 2022, according to this Vox article. There is good news, though; inflation has started to peak, and the Fed has stated that it will try to slow open-market operations in the coming months to combat rising prices. For now, though, expect to see moderately lower supply and higher prices across industries.