Growing Concerns as Inflation Hits a 13-year High
Last month, inflation hits a 13-year high. Consumer prices jumped to the highest rates since September 2008, indicating soaring demand and decreased supply. According to the Bureau of Labor Statistics, inflation jumped almost 1 percent from May to June this year. It is now up 5.4% in comparison to one year ago. The cost of many consumer goods has risen since the pandemic. Air fares are up 9.6%, furniture is up 7.8% and daily staples, such as coffee, are up 8.1%. Several factors are driving the higher prices of goods…
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