Too many dollars are chasing too few goods — or too few people who make things happen.
Consider what inflation-fighters might be thinking by eyeing an odd slice of the CPI – the cost of everything, minus more volatile items: food and energy prices.
Below, my trusty spreadsheet details the pain your wallet may be suffering, as seen through the CPI lens.Surging grocery prices are battering household budgets. In L.A.-O.C., prices are up 13% in a year vs. 5.3% a year ago. The Inland Empire prices are up 12.2% vs. 4.3% a year ago. Brenda Felton, from Rancho Cucamonga, removes a gas nozzle after filling up at a station on Milliken Avenue in Rancho Cucamonga on Tuesday, Oct. 4, 2022. The average price has risen 32 consecutive days, increasing $1.243, including seven-tenths of a cent Monday, according to figures from the AAA and Olil Price Information Service. Monday’s increase was the smallest since a half-cent increase Sept. 19.Housing costs continue to escalate.