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Mark Kugman of Kugman Motors in St. Louis has two answers — one simple and one more complicated.
The personal consumer expenditures price index is one of the Fed’s favorite tools for tracking inflation.
The economists say they expect employment to recover and that recent price spikes for some consumer goods should moderate.
The consumer price index for April showed this week that prices jumped 4.2% year over year.
Sound familiar?
The rise in inflation over the past year is at its fastest rate in more than a decade.
Food commodity prices have been rising steadily over the past several months, leading to an ever-more-expensive supply chain.
The price of used vehicles is up 32% since January.
Everything that goes into a building project, from diesel fuel to plastics to gypsum for drywall, is getting more expensive.
Will we see prices rising into 2022? And would larger-than-expected spikes in inflation be noticeable to consumers?
