Key federal reserve inflation index hits 40-year high

Key federal reserve inflation index hits 40-year high

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The Facts Inside Our Reporter’s Notebook A major inflation indicator monitored by the Federal Reserve hit a 40-year high this week, signaling ongoing price woes for Americans still reeling from sticker shocks at nearly every conceivable consumer point.
The Bureau of Economic Analysis said in its June personal income analysis that the personal consumption expenditures price index for that month “increased 6.8 percent from one year ago, reflecting increases in both goods and services.” 
That figure represents the highest year-over-year jump in the PCE since 1982, a 40-year record that comes amid looming fears of a significant economic recession.
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Source: https://justthenews.com/nation/economy/key-federal-reserve-inflation-index-hits-40-year-high?utm_source=justthenews.com&utm_medium=feed&utm_campaign=external-news-aggregators