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Prices are surging. Here's what is getting more expensive | CNN

June 10, 2021. Summarized by summa-bot.

Compression ratio: 20.8%. 1 min read.

NOVATO, CALIFORNIA - MAY 24: A butcher stocks a display case with packages of steaks at a Costco store on May 24, 2021 in Novato, California. According to a Morning Consult survey of 2,200 adult shoppers, one-third of those surveyed say that they are paying more for groceries, especially red meat and chicken. (Photo by Justin Sullivan/Getty Images)

By now, you probably know that everything is getting more expensive. From furniture, to used cars, to uncooked beef roasts, consumer prices have grown steadily since January as the economy recovers and Americans are spending money again.

Overall, consumer prices rose 5% last month over the previous May – the biggest jump since the summer of 2008 and more than the predicted 4. 7% increase.

The household furnishings and operations prices, which includes categories such as domestic services and furniture and bedding, increased 1. 3% last month.

For the second-consecutive month, used car and truck prices surged.

Last month, they rose 7. 3%, accounting for around one-third of the overall increase in prices in May. In April, used car and truck prices rose 10%, the biggest monthly price rise since used car data was first tracked in 1953.

New cars got more expensive too, rising 1. 6% in May. That’s the largest 1-month increase since October 2009.

Airline fare prices continued to surge, rising 7% last month.

by summa-bot

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