U.S. inflation report highlights strain of rising food, energy and housing costs
Detailed summary
High inflation persisted last month, providing little relief for Americans struggling with affordability. It is driven largely by food and energy price increases, but housing…
High inflation persisted last month, providing little relief for Americans struggling with affordability. It is driven largely by food and energy price increases, but housing costs also rose. The country appears to be headed for an annual inflation rate of about 4% this year. To discuss what it means for the economy, Geoff Bennett spoke with Austan Goolsbee of the Federal Reserve Bank of Chicago. Geoff Bennett: Inflation remained stubbornly high last month, adding to the financial strain on Americans already struggling with the high cost of living. The latest Consumer Price Index shows prices rose four-tenths of a percent, driven largely by higher food and energy costs.
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