The US inflation rate has seen its largest spike in over a year, with the January Consumer Price Index (CPI) revealing a 3% increase year-over-year. The core prices for items such as insurance, medical care, and vehicles rose by 3.3%, while eggs saw a significant jump of 15.2% compared to December.
The bird flu epidemic is largely attributed to the surge in egg costs, with some forecasters claiming it’s the highest price level in 45 years. This has led to bodegas selling individual eggs, mirroring the “loosies” playbook from cigarette sales.
Apollo Global Management chief economist Torsten Sløk attributes the ongoing inflation to multiple factors, including housing and healthcare expenses. However, wages have risen, providing consumers with a means to withstand higher prices. The job market remains solid, but inflation expectations are still impacted by the significant price increases.
Source: https://finance.yahoo.com/news/why-everything-still-feels-so-expensive-140018868.html