Groceries, gas still squeezing US consumers as inflation lingers [Video]

The ongoing struggle between U.S. consumers and escalating prices took another hit last month, with a crucial government index revealing that price hikes resumed in March, primarily driven by two essential sectors.The Consumer Price Index rose at a year-over-year rate of 3.5% in March. This marks the highest annual gain in the past six months. Americans are especially feeling the squeeze of higher prices for essentials like gas and shelter”This has definitely been a setback. This is not good news. It doesn’t necessarily mean that at the Fed or anyone else should give up the fight against inflation,” said Catherine Rampell, a Washington Post op-ed columnist.While overall grocery prices remained stable from month to month, they have increased by 1.2% from a year ago.”I think consumers continue to compare prices to sort of pre-COVID or two or three years ago,” said Joseph Balagtas, Purdue University professor of agricultural economics.Balagtas further …