Inflation Running At 6% With Hikes In Housing Costs Accounting For 70% Of Change
Inflation went on a tear in January and February and March rising .9% (.4% in January followed by an additional .5% increase in February) achieving an annualized rate of 6.0% by the end of the February according to data from the US Bureau of Labor Statistics.
With over 70% of the increase coming from increased housing costs alone, climbing costs hit a basket of essential goods and services including food, electricity, transportation services and many others.
“The index for shelter was the largest contributor to the monthly all items increase, accounting for over
70 percent of the increase, with the indexes for food, recreation, and household furnishings and
operations also contributing.”
We will continue to track this very important story so continue to check back.
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