Small but significant and non-transitory increase in price

Okay kiddo, let me explain. When we go to the store and buy something, we usually pay a certain amount of money for that thing, right? Now, let's say the store wants to charge a little bit more money for that same thing. But this increase in price is not just a small change that might go back to the original price soon. Instead, it's a small but noticeable increase in price that will stay that way for a while. This is called a "small but significant and non-transitory increase in price."

For example, remember those toys you liked to collect? Let's say they used to cost $5 each, but suddenly they cost $6 each. That's a small increase in price, but it's significant because you're paying more money for the same toy. And it's non-transitory because the price isn't going back to $5 soon, it will stay at $6 for a while.

Sometimes, this kind of increase in price happens because the cost of making the thing we want to buy has gone up, like when the cost of the materials used to make the toy goes up. And sometimes it happens because the company selling the thing wants to make more money. Either way, it's something we need to keep in mind when we're shopping!