Although much of the country is currently enjoying a drop in gasoline prices and certain other commodities, inflation has most certainly not gone away.
According to CNBC, there are several areas where the cost of goods and services has skyrocketed recently, with construction prices leading the way.
“We forget about this (services) component but it is nearly two-thirds of producer costs,” said economist Joel Naroff. “Trade, transportation, warehousing and government services all posted gains. This portion of the economy should provide a base for inflation.”
Image via flickr/Simon Cunningham
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