Inflation is still climbing, and doesn't seem like it will slow any time soon.
4:32 PM Jul 13, 2022
Although a hike was anticipated, it exceeded the 1.1% hike and 8.8% year-over-year increase projected by economists. This is the fourth consecutive month where economists were overly optimistic and projections have fallen short of the reality. Compared to last month, the price of food has risen by 1%, energy by 7.5%, clothing by 0.8%, new vehicles by 0.7%, gas by 11.2%, medical care by 0.7%, recreation by 0.3%, education by 0.4%, and owners’ equivalent rents by 0.7%. In addition, rental rates are up by 0.8% since last month.
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