Inflation has fallen considerably from the highs of mid-2022, but price gains are still costing Americans an extra $227 a month compared to last year.
Inflation is once again gaining steam, forcing the average American to shell out a lot more money for everyday necessities. The typical U.S. household needed to pay $227 more a month in March to purchase the same goods and services it did one year ago because of still-high inflation, according to calculations from Moody's Analytics chief economist Mark Zandi shared with FOX Business.
Inflation has not just stalled, but it is moving in the wrong direction," said Lisa Sturtevant, chief economist at Bright MLS. The Labor Department said Wednesday that the consumer price index, a broad measure of the price of everyday goods including gasoline, groceries and rent, rose 0.4% in March from the previous month. Prices climbed 3.5% from the same time last year, above the 3.2% figure recorded in February.
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