Why "chipflation" is here to stay

Data: U.S. Bureau of Labor Statistics via FRED; Chart: Emily Peck/Axios Memory chip prices are skyrocketing, thanks to AI demand, and there's no end in sight. Why it matters: "Chipflation" is pushing up the prices for electronic goods like smartphones and laptops, as well as the costs for cloud storage and hardware — it also helps explain the eye-popping ascents in semiconductor stock prices. While the overall effect on inflation may not be huge — other kinds of products get more weight in the…