Inflation is a hot topic of conversation.
Theres good news and bad news.
The good news is, inflation seems to be settling under 3%.
What else makes this so special?
Some costs are, of course, still high.
Housing is up 4% year-over-year this month.
And, utility gas service is up 9.4% year-over-year.
Sometimes it feels like theres not much we can do when prices jump.
If your budget is majorly stretched, we have a few ways to help.
What is the CPI?
So how does the BLS get this information?
Each month, the BLS gathers a sample of data from 75 urban locations across the country.
It includes 80,000 price quotes from some 22,000 retail and service providers and 6,000 housing units.
The data isnt perfect and notably leaves out numbers from more rural locations.
It can come in handy when trying to optimize budgets, investments and saving strategies.
Understanding the CPI wont just help withbudgeting.
It also may provide clues as to how and where to invest discretionary income.
Additionally, they may want to negotiate fixed-rate contracts or consider refinancing debt to lock in lower interest rates.
Now, lets dive into this months CPI report.
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If youre looking to boost your income this month, weve got just the thing for you.
What Went Up:
Each month, the CPI report reflects data gathered from the previous month.
The latest CPI report, which came out in April, reflects survey results for March.
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What This Means For You:
Here are some insights into facing the inflation fluctuations this month.
Housing: Housing has been steadily rising all year for homeowners and renters.
Food:Food has become increasingly more expensive over the past year and went up 0.4% this month.
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