The inflation rate has been on a steady decline, but the latest numbers are expected to show areas of the economy where consumer prices remain stubbornly high.
A shopper looks over a selection of canned soups April 30 at the Tops Super Market in Greenville, N.Y.The latest inflation data for the month of May lands on Tuesday morning.
The decline has been helped by gasoline prices, which have steadily fallen after sharp increases last year that were largely the result of Russia's invasion of Ukraine., analysts are now debating just how fast inflation will continue to fall.In a note to clients Monday, economists at Citibank said workers' pay increases continue to be substantial at about 6% since March 2022. It's a pace, they say, that is"consistent with underlying price inflation stably around 4.5% to 5%.
University. In an interview, Lusk noted wages in the food service industry have jumped more than 20% for food and beverage retailers compared with pre-pandemic levels.
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