The cost of living in the United States jumped again in May, boosting the annual rate of inflation to an almost 13-year high, according to a government report released Thursday, June 10.
Inflation pressures increased across a broad range of goods and services last month — markedly strongly for a second straight month for used car and truck prices, although food and energy prices saw little to no change.
Longer term as compared to a year earlier, prices for food and energy continued to be robust. Core inflation, which discounts the pair, marked its highest annual rate in nearly three decades. The question remains unanswered on whether the spike in inflation is transitory due to the pandemic. Continue reading U.S. Inflation Hottest Annually Since August 2008; Consumer Prices in May Rise Strongly
U.S. consumer prices surged in April and inflation over the past 12 months marched at the quickest pace in nearly 12 years, according to a government report released Wednesday, May 12.
American consumers paid more for a broad range of goods and services last month, highlighted by used car and truck prices which soared 10%. In a bit of a relief, the cost of energy retreated. Compared to a year ago when parts of the U.S. economy were in the earlier stages of pandemic-caused shutdowns, pricing hikes look more striking. Gasoline prices jumped nearly 50% year-over-year. Continue reading Inflation Marks Quickest Pace Since 2008; Consumer Prices Surge in April
U.S. inflation over the past year registered at a more than two-and-a-half-year high and consumer prices in March posted their biggest increase in more than eight and a half years, according to a government report released Tuesday, April 13.
Energy prices compared to a year ago increased for a second time following 11 consecutive declines. The over 13% surge is obviously significant. Then again, year-over-year pricing changes for many items, like energy, is somewhat skewed as consumer spending was impacted significantly in March 2020 due to the pandemic and resulting shutdowns. Continue reading U.S. Inflation Hits 2 1/2-Year High; Consumer Prices in March Log Biggest Gain in 8 1/2 Years
Inflation in the United States would have been exceptionally tame in February had it not been been for surging gasoline prices, according to a government report released Wednesday, March 10, as underlying inflation pressures remained weak.
Annual inflation increased the most since a year ago, driven up by energy which had previously logged 11 straight annual pricing declines. Energy and food prices increased together year-over-year for the first time since February 2020. Continue reading U.S. Consumer Prices Climb in February; Inflation Excluding Energy Tame
U.S. consumer inflation rose the most in five months, but was nevertheless mostly tame in January, according to a government report released Wednesday, Feb. 10.
Inflation over the past year read pretty much the same as the period ending in December with food prices higher and energy prices lower. Continue reading Annual U.S. Inflation Steady at 1.4%; Consumer Prices in January Highest in 5 Months
United States inflation ticked higher in December but for 2020 it still ran at its slowest pace for a calendar year since 2015, according to a government report released Wednesday, Jan. 13. The monthly level was driven up largely by higher gas prices.
As for the year overall, energy prices fell sharply, including those for gasoline and fuel oil, while the cost of food increased significantly. Continue reading U.S. Inflation Rises 1.4% in 2020, Marking Slowest Yearly Rate Since 2015
U.S. inflation remained tame year-over-year even as consumers in November paid a bit more on the whole for goods and services, according to a government report released Thursday, Dec. 10.
Altogether, the annual picture was the same, or much the same, for inflation, food prices, the cost of energy and for core inflation as it was in the 12-month period ending October Continue reading U.S. Inflation Again Rises 1.2% Year-Over-Year; Consumer Prices Climb 0.2% in November
Inflation in the United States was subdued in October following four straight months of gains, according to a government report published Thursday, Nov. 12.
Inflation pressures eased just a bit over the past year, also, with energy prices dropping the most since the 12 months ended July. Continue reading Annual U.S. Inflation Rises 1.2%; Consumer Prices Unchanged in October
U.S. inflation increased for a fourth straight month in September — again lifted in great part by used vehicle prices, according to a government report published Tuesday, Oct. 13, but its pace of advance was also the slowest in those four months.
The inflation landscape over the longer 12-month period did not change significantly from the previous reading with, for example, food prices higher and energy prices lower. Continue reading Used Vehicle Prices in September Again Drives Inflation Higher; Annual Rate at 1.4%
U.S. consumer prices rose for a third month in a row, driven higher in large by the cost of used cars and trucks which peaked to a more than 51-year high, according to a government report published Friday, Sept. 11.
Longer term, while inflation accelerated over the past year it remains tame for the most part with energy prices still a lot lower than they were last summer. Continue reading U.S. Annual Inflation Hits 1.3%; Consumer Prices in August Climb 0.4% as Cost of Used Cars Jump to 51-Year High