Inflation is pushing up costs for housing, transportation and food, the largest expense categories for the average consumer.
Of course, some of these categories — like food and energy — are volatile; they're subject to big price swings to the upside or downside. And not all consumers will be affected the same way.
A landlord who raises rent by 3% isn't likely to reduce that rent for tenants in the future. In that sense, inflation's impact on a renter's budget may be "stickier." "That data is by definition backward-looking and so it won't capture some recent price movements, particularly in the areas of energy,"to Brian Deese, the president's top economic advisor. He cited a nine-cent drop in gasoline prices nationally.
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