CHARLOTTE, N.C. — High inflation continues.
That's the big takeaway from the US Bureau of Labor Statistics, the agency that tracks the price of goods and services. The Consumer Price Index (CPI) is up 6.4% from this time last year and up 0.5% in the month of January.
What does this mean for you?
The CPI measures the average change in the prices you'll pay for various goods and services. This latest data from the BLS shows some of the most notable price hikes hitting us now include the cost of housing, food, fuel, and natural gas. Additional spending areas that increased in price in January include vehicle insurance, recreation, apparel, and household furnishings.
It's not all bad news, thankfully.
Some areas saw a monthly drop in prices, including used cars and trucks and airline fares. Although it's important to note, while airline fares have decreased 1.4% month over month, they’re still 25.6% higher than they were one year ago.
Contact Carolyn Bruck at cbruck@wcnc.com and follow her on Facebook, Twitter and Instagram.
WCNC Charlotte is always asking "where's the money?" If you need help, reach out to WCNC Charlotte by emailing money@wcnc.com.
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