Reported 25 days ago
In a recent discussion on inflation, economist Torsten Sløk highlighted that the prices of goods have risen by an average of 25% since January 2020, contributing to consumers' perception of high costs. The January Consumer Price Index showed a year-over-year inflation increase of 3% and a notable 15.2% rise in egg prices, attributed mainly to a severe bird flu outbreak. Despite slowing inflation rates, the overall price level has not decreased, driven by rising costs in housing, healthcare, and education. However, with wage increases and a solid job market, consumers are somewhat better equipped to handle the higher prices.
Source: YAHOO