Inflation, plus a pinch of good old corporate greed. In europe most money since first covid came lost at least 20% of its value (so if somebody claims their property gained cca same amount of worth, it just kept its value). Holding money really seems to be most stupid thing to do with them.

Big retail chains were making record profits, raised prices, offloaded most of risk elsewhere, and didnt correct once covid became another meh.

You can add travel cost there, folks went mental with traveling after restrictions were dropped, and so far dont seem to slow down.