Prices expected to continue rising this summer
Prices are expected to keep rising this summer, pushed up by bottlenecks for materials and labor, and surging consumer demand, Reuters reports.
Why it matters: The "Memorial Day Weekend price index" showed leisure-related prices up about 4.3% since the pandemic began — more than overall consumer prices, which rose 3.1% over that period.
Our thought bubble: via Axios' Felix Salmon: Inflation fears are overdone.
- Consumer prices aren't the real problem — we don’t even notice when prices on Amazon go up and down. What matters are the big things: housing, healthcare and college.
When people say "inflation," Felix notes, what they often mean is the feeling that a good lifestyle is increasingly unaffordable. That’s not really a function of retail prices.
- And inflation figures reflect genuinely higher living standards for hourly workers, which feels like a tradeoff worth making.
Go deeper: "Don't fear inflation."