Is not what we want to hear when we're already
paying higher prices for just about everything Right now.
We're looking at those new inflation numbers though tonight,
and they are cooling off any hope of lower insurance
rates.
WPTV News Channel 5's Matt says he looks at what
this means for your wallet.
The consumer price numbers came out from the government,
and it's news that not many of us wanted to
hear,
but certainly something that many of us already know the
price of things still too much?
Yeah, very expensive. It's really hard to shop a mom
of four saying prices are not getting better.
In fact, March was a big kick in the teeth.
It was worse than expected.
And really, no matter how you slice it,
Bank rate economist Greg McBride says the 3.5%
inflation figure is showing inflation picking up steam.
Everything from housing, energy, insurance with no end insight For
many of us,
I haven't seen it. I've been shopping for like a
year since I got here and everything got really high.
The news about inflation is also leaving federal regulators no
choice but to keep interest rates high to try and
slow down prices.
But that leaves us with expensive lending like credit cards
and it's also sagging Wall Street and 401K accounts.
The main driver of this many say the cost of
oil.
Driving up the price at the pump,
it's now turning into a headwind that drives up not
only the headline rate of inflation,
but as we've seen before,
those higher costs, if they persist,
they can make their way into the costs of other
goods and services.
So at least for the rest of this spring,
inflation still seems to be hanging around and giving us
a lot of pain in the pocketbook in West Palm
Beach.
Matt Sesney, WPTV News, Channel 5.