While unusual, these three indictors show how bad prices are getting.
- Consumer prices soared 8.6% annually in May, the fastest pace in 40 years.
- Most people feel inflation when they fill their gas tanks or buy groceries.
- But services like haircuts and goods such as stamps also show how costs have spiked.
Most people don’t need headlines to tell them inflation is surging and the odds of a recession are rising. For many of us, certain telltale signs really bring home how bad it’s getting.
Almost everyone notices how much more it costs to fill our tanks at the gas station, with a gallon of regular unleaded hitting a record-high national average of $5.01 in June. They are also likely familiar with how much more groceries cost, with staples up 11.9% in the 12 months ending May.
