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#pymntsintelligence

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Bytes Europe

January Inflation Erodes Consumer Purchasing Power byteseu.com/740790/ #BureauOfLaborStatistics #ConsumerFinances #ConsumerPriceIndex #ConsumerSpending #CostOfLiving #CPI #economy #FeaturedNews #Inflation #News #PaycheckToPaycheck #PurchasingPower #PYMNTSIntelligence #PYMNTSNews

Bytes Europe · January Inflation Erodes Consumer Purchasing PowerIt’s not just about the eggs. Consumers were already feeling the pinch of higher inflation well before the January data on the Consumer Price Index was released by the Bureau of Labor Statistics on Wednesday (Feb. 12). And yes, eggs were a standout here — a poster child for inflation as the CPI hit the 3% year-over-year mark for the first time since June. The CPI was up 0.5% for the month. It’s worth noting that several components of essential spending — non-variable in nature — are getting more expensive. As such, consumers cannot just depend on food prices coming
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