Economy

Everyone knows inflation is on fire. Here’s what’s really fueling it

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Meat is seen in a supermarket as rising inflation affects consumer prices in Los Angeles, California, June 13, 2022.

Lucy Nicholson | Reuters

Inflation doesn’t just happen at the gas pump and the grocery store. There are literally hundreds of avenues that filter into broader measures the government uses to gauge price increases.

The big three inputs for the consumer price index, the most widely followed inflation measure, are food, energy and shelter.

Combined, they make up about 54% of the CPI. More importantly, though, they are the main inputs into perceptions of inflation.

Because going to the grocery store and filling up the gas tank are activities people do a lot, they tend to notice…



Source cnbc.com

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