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Prices jumped 3.5% in March, marking the highest annual gain in the past six months. New and used cars seem to be defying the trending higher prices, though.
Surging gas prices and high housing costs sent inflation rising higher than expected last month.
Prices jumped 3.5% in March, marking the highest annual gain in the past six months.
On WFMJ Weekend Today, Retail expert John Rossi explained it’s mostly due to short supply, for things like gas and housing. But many of the other inflated prices are expenses that are being passed along to consumers, due to rising materials and labor costs.
“Just behind the consumer price index is the purchaser price index. Those are the costs that are rising for the producers of goods and services. And what’s happening is that has been at a high level as well,” Rossi noted.
New and used cars seem to be defying …