The inflation canary in the coal mine may be singing its unhappy song.
Prices have begun to rise on many products, according to the federal government’s latest Consumer Price Index readings. Overall, the index rose 0.6% in March on a seasonally adjusted basis, the largest one-month rise since a 0.6% increase in August 2012.
In particular, a handful of items have become especially costly. Following are products whose prices are rising fast.
Homes
Fifteen years ago, home prices were sky-high. We all know what happened next: The epic housing bubble burst right over the roofs of millions of homeowners.
Now, home prices are on a tear again. The most recent S&P CoreLogic Case-Shiller national home price index showed an increase for eight straight months, and prices have reached new record highs.
Politico reports that the latest surge — which shows no signs of abating — has many policymakers and other experts concerned. As Lawrence Yun, chief economist for the National Association of Realtors, told the publication:
“I am worried that the price run-up is going to choke off first-time buyers. This simply cannot continue.”
Rental cars
Now that millions of people have been vaccinated against COVID-19, life is slowly returning to normal. As travel picks up again, it is putting pressure on the supply of rental cars — and causing some jaw-dropping increases in rental car…
