U.S. consumers are seeing prices climb, and not just for fuel
U.S. consumers are experiencing rising prices, particularly in core goods. The personal consumption expenditures price index rose 3.8 percent in April, largely due to increasing gasoline prices and tariffs. Additionally, demand for electronics driven by artificial intelligence is contributing to price surges in certain categories.
- ▪The personal consumption expenditures price index increased by 3.8 percent in April compared to the previous year.
- ▪Tariffs and the AI boom are influencing the rising prices of core goods.
- ▪The tech category of goods saw a 10 percent annual increase in prices.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountConsumers in the United States are feeling the crush of rising prices. But while the war with Iran gets much of the attention, when volatile products such as food and energy are stripped out, core goods prices are climbing at the fastest pace since Ronald Reagan was on his way out of the White House.The personal consumption expenditures price index, the measure of goods and services inflation most closely watched by the U.S. Federal Reserve, jumped 3.8 per cent in April from the year before. That was the fastest rate in three years, and it was heavily driven by soaring gasoline prices. But below the surface, prices for core goods have risen spectacularly.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Globe and Mail.
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