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Wednesday, September 28, 2022

Grocery Prices Are Up Most Since 1979 and Other Inflation Sticker Shocks

Grocery Prices Are Up Most Since 1979 and Other Inflation Sticker Shocks
© Bloomberg. A shopper carries oranges inside a grocery store in San Francisco, California, U.S., on Monday, May 2, 2022. U.S. inflation-adjusted consumer spending rose in March despite intense price pressures, indicating households still have solid appetites and wherewithal for shopping.

(Bloomberg) — So much for the idea that inflation had already peaked.

May’s consumer price index showed that inflation is still very much roaring in the US economy, straining fragile budgets even further. Costs for things from baked goods and haircuts jumped, underscoring the broad-based nature of price pressures.

Nearly every category in Friday’s report showed prices continued to rise at a rapid clip. Here are some of the highlights, or lowlights, rather:

While Americans can’t get around sky-high prices for necessities like food and gas, a few discretionary categories came off the boil — including for men’s pants and jewelry.

©2022 Bloomberg L.P.

Source: Investing.com

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