The Economic Perspective: “Latest Inflation Reading”

Posted on Posted in Daily Ag Summary, Economic Perspective-Mike Walden, Featured Stories, Top Ag Headlines

Mary: I’m Mary Walden with economist MW welcoming you to the economic
perspective. Today’s program looks at the latest inflation reading. Mike, inflation, which
is another name for the rise in average prices, has been rather calm in recent years. Some
economists worry this won’t last. Are there any worries about inflation from its latest
report?
Mike: Summary Answer
a. There’s a little concern
b. Latest report shows year over year, inflation up 3.7%
c. Causes were fastest price increases in food and gas
d. Right now, attribute those increases to the economic recovery – buying is
ahead of supply
e. Of course, for gas (oil), foreign production is important, and it has
purposefully been kept lower
f. For food, reflecting re-orientation back to restaurants from grocery stores
g. So, may be temporary
h. I’m MW
Mary: And I’m Mary Walden for the Economic Perspective, an NC State Extension
program from the Department of Agricultural and Resource Economics.