Prices Are Continuing to Surge: Here’s What’s Becoming the Most Expensive

Contact Your Elected Officials
The Epoch Times Header

Compared with just one month ago, consumers are paying slightly more for most goods and services. Compared with a year ago, however, they’re paying significantly more, according to Labor Department data released this week.

The Labor Department reported that the consumer price index, a key inflation gauge that measures how much Americans pay for goods and services, rose about 0.4 percent in September. The year-over-year prices increased 5.4 percent, which some noted is the largest yearly increase since January 1991.

The agency’s report (pdf), released Wednesday, breaks down how much prices have increased for certain key services and goods, including gas, food prices, electricity, and used cars:

Gas: 42.1 percent

Meats, poultry, fish, and eggs: 10.5 percent

Propane, kerosene, and firewood: 27.6 percent

Fuel oil: 42.6 percent

Electricity: 5.2 percent

Peanut butter: 6.2 percent

Coffee: 4.0 percent

Bacon and similar products: 19.3 percent

Uncooked beef steaks: 22.1 percent

Furniture: 11.2 percent

Used cars and trucks: 24.4 percent

New cars and trucks: 8.4 percent

Rental cars: 42.9 percent

Footwear: 6.5 percent

Motor vehicle maintenance and repair: 4.0 percent

Postage and delivery services: 3.2 percent

Haircuts and other personal care services: 5.0 percent

Sporting goods: 7.5 percent

Appliances: 7.1 percent

Restaurant prices: 4.7 percent

Rent. 2.9 percent

While some economists, including those at the Federal Reserve, have stressed that the current inflation surge is transitory, prices have continued to rise. According to Labor Department data, wages only increased by 4.6 percent compared to the previous year, meaning that inflation is outpacing wage growth.

Analysts have blamed a combination of factors for the spike in inflation, including supply chain disruptions and bottlenecks, energy shortages in the Asia-Pacific and Europe, and COVID-19-related concerns and vaccine mandates.

Queen’s College President and economist Mohamed El-Erian, in an interview on Oct. 11, said he believes inflation is going to become “more and more of an issue for markets” and that it will “separate winners and losers in a significant way.”

By Jack Phillips

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Doxed Democrats Are Getting Fired Left and Left

Not a misprint because a title of “left and...

Hold Up, Feds, Without Federalism, There Is No USA

Federalism is essential to governing the U.S., yet the federal government is undermining it by bribing states to implement unnecessary federal programs.

A Widow Inspires The World

Erika Kirk moved the nation with her speech two days after her husband’s assassination, vowing to continue his mission and grow Turning Point USA.

Both Left and Right Are Making Lists

The right admired Charlie Kirk for his faith and patriotism, while the left opposed him for dismantling their positions and narratives with ease.

Redemption’s playbook: The Senior

The Senior isn’t your usual underdog tale, it’s real, it’s raw, and it flips every cliché on its head with a playbook full of grit and plenty of aftermaths.

FBI Looking Into Other Possible Charlie Kirk Assassination Accomplices: Deputy Director Bongino

FBI Deputy Dir. Dan Bongino said that the FBI is “looking into” other possible accomplices in the assassination of conservative influencer Charlie Kirk.

Actor Sean Astin, Known for ‘Rudy,’ ‘Lord of the Rings,’ Elected SAG-AFTRA President

Oscar-nominated actor Sean Astin, famed for Samwise in “Lord of the Rings,” has been elected as the new president of SAG-AFTRA.

RFK Jr. Names New Members to CDC Vaccine Advisory Panel

Health Secretary Robert F. Kennedy Jr. named 5 new members to the Advisory Committee on Immunization Practices, which advises the CDC on vaccines.

Kash Patel Confirms DNA Evidence Match in Kirk Assassination, Reveals Details of Note

DNA evidence matching that of Charlie Kirk’s suspected killer was found at the crime scene, FBI Director Kash Patel said on Sept. 15.

Trump Signs Memo Targeting Direct-to-Consumer Pharmaceutical Advertising

President Trump signed a memo to ensure drug ads give fair, balanced, and complete information to protect and inform American consumers.

Trump Runs out of Patience With China, Sharpens His Words

President Donald Trump’s recent remarks targeting China and its allies mark a noticeable shift in tone.

Trump Signs Order Renaming Department of Defense as Department of War

President Donald Trump on Sept. 5 signed an executive order renaming the Department of Defense as the Department of War.

Trump Signs Executive Order Targeting Countries That Unlawfully Detain Americans

President Trump signed an EO on targeting the unlawful detention of American citizens around the world and to facilitate the release of hostages.
spot_img

Related Articles

Popular Categories

MAGA Business Central