The latest inflation readings showed a mixed bag as drops in grocery and used car prices balanced out increases in rent and gasoline. Meanwhile, on a monthly basis, costs rose 0.3%, below the 0.4% rise the previous month but above the 0.1% to 0.2% readings that prevailed last fall. Grocery prices dropped 0.2% after flatlining the previous two months, gasoline prices rose 2.8% and used car prices declined by 1.4%. Rent, measured in March, rose .4% month over month. Inflation is the decline of purchasing power in an economy caused by rising prices, according to Investopedia.

Source: The Herald May 15, 2024 22:15 UTC