Soaring prices are pinching shoppers
Story By: Bea Karnes
Source: NBC
145 day(s) ago
Prices for clothing, electronics, and other goods and services are at their highest in 17 years. Last month, the consumer price index rose at twice the rate expected. It is another sign, along with job layoffs, credit problems and the housing meltdown that inflationary pressures are weighing heavily on the U.S. economy.
Americans are buying less in this struggling economy but are paying more for those goods and services.
In the past year, retail inflation has surged five percent to its fastest pace in nearly two decades.
