5/24/22-Inflation’s High. But There’s More to it Than Just a Number
- May 24 2022
- By: info@njcfe.org
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Inflation’s High. But There’s More to it Than Just a Number
April 13, 2022 | njspotlightnews.org
When inflation is rising, as it has been for at least a year, consumers are generally paying more for the goods and services they purchase.
The federal government’s consumer price index looks at the changes in overall prices across a range of items that includes food, shelter, energy, gas, cars and clothes. But more detailed information also published on a regular basis shows where some of the biggest fluctuations in prices have occurred, including from month to month and over the last year.
For example, the latest figures released Tuesday by the Bureau of Labor Statistics indicated prices were up 8.5% for all items over the 12-month period that ended in March. That marked the largest 12-month increase since 1981, according to BLS.