The CPI isn’t perfect, but experts say that no one index is.

But inflation eased on a month-to-month basis. Many economists expect price gains to moderate as the pandemic recovery progresses.

The Federal Reserve is aiming for long-term inflation of 2%. But economists say a bit more could help some workers and borrowers.

If people think prices will rise, they will modify their behavior. That could, in turn, lead to price hikes.

While many new-car assembly lines are backed up, older cars are available, and they’re fetching premium prices.

Consumer inflation expectations aren’t rising sharply, according to Morning Consult, consistent with the Fed’s view that most inflation right now is “transitory.”

Restaurant prices are up 4% compared to May of last year.

The latest numbers from the Bureau of Labor Statistics show that food prices rose in May. That’s a trend that will likely continue in the short term.

There was a 0.6% increase in prices over April and 5% over the past year, the biggest 12-month inflation spike since 2008.

Inflation data shows that consumer prices went up 4.2% year over year — the most since 2008.