South Jordan, Utah — Johnny and Joannagar Brace spend a lot on most items within their budget this year for a family of three young children.
Some changes due to different consumption habits as they become easier in post-pandemic life.
Many others were caused by inflation, with overall consumer prices rising 5% year-on-year in May, the largest surge since August 2008.
Inflation is underpinned by rising demand as more people fly to Florida and buy new clothes out of the Covid-19 blockade. Supply pressure is also a factor, such as barges clogged with supplies on the Suez Canal and difficulties in finding employees.
The Consumer Price Index is a benchmark for inflation, measuring the amount consumers pay for groceries, clothing, recreational activities, and daily necessities such as vehicles.
How much is the price? This is the daily cost of one family.
Source link How much is the price? This is the daily cost of one family.