Everything seems to be getting more expensive. here’s why

INFLATION FIGURES IN DECADE, AND EXPERTS SAY THERE IS GOOD AND BAD NEWS ON THE WAY. CONSUMER PRICES CONTINUE TO INCREASE, INCREASING 5% OVER THE LAST YEAR, PUTTING A HIGHER PRICE TCEAG ON MANY ITEMS THAT WE PURCHASE EVERY DAY. >> IT INCLUDES A WIDE RANGE OF SERVICES, LEIK FOOD THINGS, ENERGY PRICES, SUSTAINABLE GOODS LIKE CARS AND TRUCKS AS WELL AS CONSUMABLES LIKE ALCOHOLIC BEVERAGES. KRISTEN: BRIAN GLOOTBB WORKS AT THE NEW HAMPSHIRE ECONOMIC AND LABOR MARKET INFORMATION OFFICE. HE SAYS THE PANDEMIC HAS LIMITED SUPPLY AND NOW WITH INCREASED DEMAND AS THE ECONOMY REOPENED, PRICES ARE INCREASING. >> WITHOUT THE CAPACITY FOR THE ECONOMY TO MEET THIS DEMAND AT LEAST IN THE SHORT TERM, FOR THE NEXT MONTHS THEREFORE, PRICES WILL INCREASE. KRISTEN: ENERGY COSTS HAVE INCREASED! ENERGY COSTS HAVE MOVED OVER 28%, THE GASOLINE PRICE INDEX HAS THE LARGEST INCREASE SINCE 1980. USED CAR AND TRUCK PRICES ARE ALSO RISING. >> AND THIS IS TO SEE IN THE FACT THAT IT IS DIFFICULT WITHOUT PURCHASING A NEW VEHICLE. THE VEHICLES ARE NOT PRODUCED BY BNGEI BECAUSE THERE ARE DIFFICULTIES FOR MANUFACTURERS OBTAINING MICROCHIPES. KRISTEN: ONCE THIS PROBLEM IS SOLVED, HE SAYS THESE PRICES SHOULD DROP. AND REGARDING OTHER PREIQUE INCREASES, EXPERTS SAY IT COULD BE WORSE BEFORE IT gets better. BIG RESOLVED DURING THE FALL. KRISTEN: EXPERTS SAY UNTIL THE SUPPLY CHAIN ​​PROBLEMS CAN BE SOLVED, WE WILL SEE MORE INFLATION. BUT AIAGN THEY THINK THE PRICES WILL DROP TO MORE NORMAL LEVELS BY THE END

By now you probably know that everything is getting more expensive. From furniture to used cars to uncooked roast beef, consumer prices have been rising steadily since January as the economy recovers and Americans are spending money again. commodities soar. Overall, consumer prices rose 5% last month from the previous May – the biggest jump since summer 2008 and more than the expected increase of 4 , 7%. Here’s what you need to know about price trends. a new sofa? Maybe new bedding? Be prepared to pay more than usual. Furniture and operations prices, which include categories such as household services and furniture and bedding, rose 1.3% last month. At first, the change doesn’t seem like much, but it is the biggest monthly increase since January 1976. Last spring, as the pandemic brought economic chaos, sawmills shut down in anticipation of a real estate crisis. This crisis never came. Now lumber prices are skyrocketing as lumber supply has tried, but failed, to keep up with demand. Transportation For the second month in a row, prices for used cars and trucks soared. Last month they rose 7.3%, accounting for about a third of the overall price increase in May. In April, prices for used cars and trucks rose 10%, the largest monthly price increase since data on used cars were first recorded in 1953. New cars are on the rise. also became more expensive, increasing 1.6% in May. This was the largest month-on-month increase since October 2009. The shift to working from home and the loss of jobs last year pushed auto sales down. In response, many dealerships have closed. While the demand for cars has returned, the supply has not returned. Auto factories around the world have been forced to shut down or limit production following a recent shortage of computer chips. Now car dealerships have fewer cars on their lots. Strong demand and limited supply continue to drive up prices. American travelers have been stuck at home for over a year now. But with the easing of COVID-19 restrictions and rising vaccination rates, travel is coming back and people are eager to go. Airline ticket prices continued to rise, rising 7% last month. Other modes of transport continued to increase. Car and truck rentals are 12.1% more expensive, and other intercity transport now costs 2% more. Once you get to your destination, things don’t go so bad. Intracity transport prices fell 0.4% last month. Food If you’re planning on buying uncooked roast beef or beef steaks at your July 4th party this year, you might want to reconsider your decision. The price of each rose 6.4% and 4.3% respectively last month. As an alternative, you can try Frankfurters, which are 1.9% cheaper than in April, or ham, which is 2.7% cheaper. Overall, prices for meat, poultry, fish and eggs rose 1.3% last month. Fortunately, however, pickle prices are down 2.1%, soft drink prices are down 0.5%, and overall fruit and veg prices have not changed, so you can au the less you supply. accompaniments and drinks for your end of year celebrations. Notably volatile, food prices continue to rise in general. The cost of food rose 0.4% in May. This is the same increase as in April. Health While prices are rising, there is good news, especially if you need a doctor. The Medical Care Index, which includes things like drugs. , medical equipment and health services, rose 0.9% over the past 12 months. Yes, it’s higher than the same point last year, but it’s the smallest increase since March 1941.

By now you probably know that everything is getting more expensive. From furniture to used cars to uncooked roast beef, consumer prices have been rising steadily since January as the economy recovers and Americans are spending money again.

Sending higher prices too: The ongoing pandemic has complicated supply chains, limiting supply, even as demand for goods skyrockets.

Overall, consumer prices rose 5% last month from the previous May – the biggest jump since summer 2008 and more than the forecast increase of 4.7%.

Here’s what you need to know about price trends.

Home furnishings

Thinking of buying a new sofa? Maybe new bedding? Be prepared to pay more than usual.

Prices for furnishings and home operations, which include categories such as household services and furniture and bedding, rose 1.3% last month. At first, the change does not seem significant, but it is the largest monthly increase since January 1976.

Last spring, as the pandemic brought economic chaos, sawmills closed in anticipation of a housing crisis. This crisis never came. Now lumber prices are skyrocketing as lumber supply has tried, but failed, to keep up with demand.

Transport

For the second month in a row, prices for used cars and trucks jumped. Last month they rose 7.3%, accounting for about a third of the overall price increase in May. In April, prices for used cars and trucks rose 10%, the largest monthly price increase since data on used cars were first recorded in 1953.

New cars also became more expensive, increasing 1.6% in May. This is the largest month-on-month increase since October 2009.

The shift to working from home and the loss of jobs last year have caused auto sales to plummet. In response, many dealerships have closed. While the demand for cars has returned, the supply has not returned. Auto factories around the world have been forced to shut down or limit production following a recent shortage of computer chips. Now car dealerships have fewer cars on their lots. Strong demand and limited supply continue to drive up prices.

Trip

Americans have been stuck at home for over a year now. But with relaxed COVID-19 restrictions and rising vaccination rates, travel is returning and people are eager to go.

Air ticket prices continued to rise, rising 7% last month. Other modes of transport continued to increase. Car and truck rentals are 12.1% more expensive, and other intercity transport now costs 2% more.

Once you get to your destination, things don’t go so bad. Intra-urban transport prices fell 0.4% last month.

Food

If you are considering buying uncooked roast beef or beef steaks at your July 4th party this year, you might want to reconsider your decision. The price of each rose 6.4% and 4.3% respectively last month. As an alternative, you can try Frankfurters, which are 1.9% cheaper than in April, or ham, which is 2.7% cheaper. Overall, prices for meat, poultry, fish and eggs rose 1.3% last month.

Fortunately, however, pickle prices have fallen 2.1%, soft drink prices have fallen 0.5%, and overall fruit and veg prices have not changed, so you can au less stock up on side dishes and drinks for your end of year celebrations.

Notoriously volatile, food prices continue to rise in general. The cost of food rose 0.4% in May. This is the same increase as in April.

Health

While prices are going up, there is good news, especially if you need a doctor.

The medical care index, which includes items such as drugs, medical equipment and health services, rose 0.9% in the past 12 months. Yes, it’s higher than the same point last year, but it’s the smallest increase since March 1941.


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