By Manuel Gutierrez, Consulting economist to NKBA

 

The 9.1 percent Consumer Price Index climb exceeds 8.6 percent of previous month, catching most economists by surprise.

 

  •  Latest report from the Bureau of Labor Statistics reveals widespread price increases across products and services.

 

  • Gasoline prices lead with YOY gain of 60 percent, with food up by 10.4 percent and household furnishings 9.5 percent.

 

  • Total energy inflation, which includes gasoline, gas for the home and energy services, is up 42 percent.

 

  • New Vehicle inflation accelerates to 11.4 percent while Used Vehicle prices moderate to a 7.1 percent rise.

 

  •  Total Housing costs, which include those of owning or renting a home as well as maintenance and upkeep are up 7.3 percent.

 

  • Among the other categories within our industry, Windows are running 16 percent ahead of last year, Flooring 8.8 percent and Household Appliances 6.5 percent.