High gas prices are just the start — inflation is seeping into the rest of the economy
Inflation in the United States is showing signs of spreading beyond gasoline prices, impacting sectors like housing, utilities, and recreational spending. Recent data from the Personal Consumption Expenditures Price Index indicates a year-over-year increase of 3.8%, with core PCE, excluding food and energy, also rising. This persistent inflation poses a challenge for the Federal Reserve, especially with Kevin Warsh newly appointed as chair, as they navigate economic slowdown fears alongside rising prices. AI
