inflation
Experts say that although inflation remains at a high, there is hope that the peak has been reached and it will start to decrease again. The Producer Price Index which indicates the level of inflation prior to goods and services reaching consumers rose 11% over the past 12 months. When the year ended in March, the PPI had been at 11.5%. While it is still high, experts say the slight decrease is a good sign that it won’t get worse. Other economists warn that these levels will stay for months to come. President Joe Biden released his plan to lower inflation in the coming months, reiterating his ...
uPolitics.com
A key inflation gauge, the PCE Price Index, rose 5.8% in December from December 2020. The high inflation rate ties June 1982 in at the fastest pace ever, according to the Bureau of Economic Analysis. The PCE Price Index examines the prices Americans are paying for a variety of things – like food. Then it adds in how those costs are changing over a period of time. The report also stated that consumer spending decreased by 0.6 percent in December, likely due to the spike in Omicron variant cases. As numbers soared, fewer Americans spent money on traveling, entertainment and eating at restaurants...
uPolitics.com
President Joe Biden on Wednesday tried to quell growing public anxiety over rising inflation, which is driving up the costs of goods for cash-strapped consumers. The cost of living has jumped by 6.2% in the last 12 months – the highest increase in 30 years – the Bureau of Labor Statistics revealed this week. “The American people, in the midst of an economic crisis, that recovery is showing strong results, but not to them. They’re still looking out there. Everything from a gallon of gas to a loaf of bread costs more. And it’s worrisome, even though wages are going up,” Biden said in a speech in...
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