Rental cars cost 12% more last month — it must be inflation, right? Yes and no
When Chipotle CMG, +1.21% CEO Brian Niccol shared that the company has increased its menu prices by nearly 4%, some customers thought they knew exactly what to blame for pricier burritos: inflation.
Data from the most recent CPI report estimates that Americans paid 0.6% more for goods overall compared to the prior month and 5% more compared to last May. Case in point: At the height of the pandemic a pack of three 8 oz. bottles of Purell was listed for nearly $70 on Amazon AMZN, +2.09% — more than four times what consumers paid for the same pack pre-pandemic, according to CamelCamelCamel.com, a site that tracks prices of good listed on Amazon.
“If you’re someone who’s going to the grocery store on a regular basis or even to the gas pump, and you’re noticing that those prices are rising, that doesn’t always necessarily count as inflation,” she said.
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