Inflation Rises Sharply in June
Consumer prices made a sharp jump last month rising 1.1 percent, the biggest increase since September of 2005. With consumer earning power down and inflation up many people are looking for ways to save a few dollars. With a close to one percent drop in earnings combined with a 6.6 percent increase in energy costs consumer prices rose at the second fastest pace in 26 years.
The brunt of that cost lay at the feet of energy prices. Even with a strong economy here in Grand Junction consumers are still be weary.
With an increase in core inflation airline ticket prices took a 4.5 percent jump the biggest rise since June of 2001. And while Congress contemplates a second stimulus package consumers look for ways to save some coin.
while rising inflation along with weak growth loom over a slowing economy consumers look for ways to escape the pinch of rising prices and dropping earnings.
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