If people think prices will rise, they will modify their behavior. That could, in turn, lead to price hikes.
The consumer price index doesn't reflect the hot housing market, and some say that's a problem.
There was a 0.6% increase in prices over April and 5% over the past year, the biggest 12-month inflation spike since 2008.
Core inflation strips out food and energy prices, because they can be pretty volatile.
With the pandemic, there are now 43 million people signed up for food assistance through SNAP.
Slowing inflation isn't as dangerous as prices dropping for a long period of time. But it's important to keep disinflation in check.
Prices of many goods are dropping as demand slows and people stay at home more. But does this mean deflation is here to stay?
How prices of many basic goods and services change usually tells us a lot about where the economy is headed.