What Will Be The Most Expensive Thing? Prices Surge Continues!


Consumers are paying higher prices for goods and services in comparison to those before one month. And even worse, in contrast to the previous year, we are paying significantly higher prices, and Labor Department data confirmed it.

The Labor Department stated that the consumer price index, which is the crucial inflation gauge measuring how much Americans pay for goods and services, has increased by 0.4% in September. From year to year, the prices increase by 5.4%. Some experts claim that it’s the highest yearly increase since January 1991.

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On Wednesday, the agency released a report which breaks down how much the prices have increased for specific goods like gas, food, electricity, and cars.

Gas: 42.1 percent

Meats, poultry, fish, and eggs: 10.5 percent

Propane, kerosene, and firewood: 27.6 percent

Fuel oil: 42.6 percent

Electricity: 5.2 percent

Peanut butter: 6.2 percent

Coffee: 4.0 percent

Bacon and similar products: 19.3 percent

Uncooked beef steaks: 22.1 percent

Furniture: 11.2 percent

Used cars and trucks: 24.4 percent

New cars and trucks: 8.4 percent

Rental cars: 42.9 percent

Footwear: 6.5 percent

Motor vehicle maintenance and repair: 4.0 percent

Postage and delivery services: 3.2 percent

Haircuts and other personal care services: 5.0 percent

Sporting goods: 7.5 percent

Appliances: 7.1 percent

Restaurant prices: 4.7 percent

Rent. 2.9 percent

Some economists emphasized that the current inflation surge is transitory, and the prices will continue to rise. Labor Department data stated that wages increased by 4.6%, so inflation is outpacing wage growth.

Many analysts and experts say that a mix of factors is responsible for the inflation spike, such as supply chain disruptions and bottlenecks, energy shortages in the Asia-Pacific zone, and Europe. Also, let’s not forget the C-19 related concerns and vaccine mandates.

Queen’s College President and economist Mohamed El-Erian stated that he thinks inflation will be “more and more of an issue for markets” and that it will “separate winners and losers in a significant way.”

This Wednesday, the Biden administration shared a couple of statements and announcements, claiming that the WH will try to alleviate supply chain issues. They will ask the shipping companies like FedEx and UPS to try to find a solution and deal with bottlenecks. They requested the LA Post to work around the clock, seven days per week.

Furthermore, Republican lawmakers argued that the policies have contributed to the year-over-year inflation. The WH addressed gas shortages and price surges, and the press secretary Jen Psaki announced that Biden “has asked his economic team, as they do on any range of issues impacting the public, to continue to discuss what the options are that we can take to address these shortages.”

Shortly said, Psaki claimed that she’s “not in a position yet to outline additional steps we can take,” but there are certain steps that the Biden administration can take.

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Addison Wilson

A passionate teacher in English Language and Literature ready to give her best! Developing and implementing diverse curriculums covering a wide range of subjects. With my problem-solving skills, every job will be easily completed, so punctuation is my strength. Highly skilled at motivating students through positive encouragement and reinforcement of concepts via interactive classroom instruction and observation. My working style fits every personality type, so it makes me a great team player. I have completed numerous journalistic projects successfully, so digging for further information is my field. Fighter for freedom of speech! The truth must be revealed!

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