From December 2020 to December 2021, overall prices for consumers went up 7 percent, as reflected in the last month’s Consumer Price Index report. The last time the index rose by that much occurred in 1982. The surge marks another milestone for inflation, a growing concern for policymakers and consumers as companies face supply chain issues amid an increase in demand and government stimulus money. Despite the 7 percent gain during the previous 12 months, a look from month to month reveals a slight downward shift. Between November and December 2021, monthly inflation declined from 0.8 percent to 0.5 percent. The year ahead, however, could see a continuation of higher levels of inflation, with some sectors seeing increases in prices at a steeper rate than others. Inflation in the Grocery Aisles Five of the six major grocery store food group indexes rose in December 2021. Beef prices were up by …
Prices Forecast to Increase Through 2022, With Some Sectors Facing Higher Hikes Than Others
January 24, 2022
admin
0 Comment