The consumer price index (CPI) data of the U.S. Bureau of labor statistics show that almost every aspect of the U.S. economy is affected by inflation. According to the consumer price index, the prices of consumer goods and services increased by 6.2% from October 2020 to October 2021, the largest increase in 12 months in the past 31 years.
From October 2020 to October 2021, the price of milk increased by 17%; The price of eggs rose by 42%; The price of energy services has increased by more than 11%; The average selling price of homes in the United States rose by $70000. Kelly Blue Book reported in October that the average price of new cars in the United States has increased by $5000 since the end of 2020.
The inflation crisis has pulled millions of Americans out of the real estate market, and many families can hardly afford to spend on important items such as cars. Therefore, when economic growth is urgently needed, market demand is declining. Sales in the U.S. auto industry fell 7.3% from August to September.
Reprint indicated source：Spark Global Limited information