Dive into my world of fashion and politics
Americans have been feeling the burn from inflation for the past two years but despite prices starting to ease after reaching an all-time high last summer, firing up the grill to celebrate America’s birthday this Fourth of July holiday weekend is still expected to be expensive to host a cookout.
Inflation continues to run red-hot in January, with consumer prices notching another fresh four-decade high — indicating no sign of easing anytime soon and cementing the Federal Reserve’s prospects of aggressively raising interest rate hikes next month to combat the inflationary pressure hurting Americans.
Inflation jumped at its fastest 12-month pace in nearly 40 years in December, as the surging costs continue to eat into Americans’ wages and indicate that inflationary price pressure shows no sign of easing.
Inflation accelerated at the fastest monthly and annual pace, hitting a three-decade high in October — a key indicator that prices are rising more than expected as companies continue to struggle with the ongoing supply chain, labor shortage, and consumer demand.
