CHICOPEE, Mass. (WWLP) – The U.S. Bureau of Labor Statistics released it’s consumer price index for July Thursday, indicating little change in inflation with price growth holding well below the red-hot rate we saw last year. However, there’s a difference between on-paper and in-public.
“I can’t afford food. Hamburger, everything has gone up dollars and dollars. Everyone on a fixed income will feel it,” said Michael McGarry.
Food prices are among those still rising, up 0.2 percent from June and 3.2 percent from those super-inflated prices this time last year. The cost of shelter, leading all indices, up 7.7 percent over last year. But not everything is on the rise.
“We’ve seen a change at the pump, not down to where we want it,” said Kurt Wohlers.
CPI data shows gasoline of all types is down almost 20-percent from this time last year and electricity prices are down 0.7 percent from just last month.
If you’re in the market for a used car, they’re cheaper than June alongside price drops for new cars and even medical care.
Now, the impact of these prices, all eyes turn to the Feds as they consider if this level of inflation warrants another interest rate hike.