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Researchers predict consumer prices will rise by 7% in 2022

. What does that mean, and what will it look like for regular Americans?  

The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for regular household expenses like utility bills, gas, and groceries. How do economists use the CPI? We get inflation when prices rise faster than wages and the purchasing power of money. Is inflation solely responsible for these current sky high prices? What about the supply chain? Are inflation and supply chain connected?

 for buying in bulk, switching high interest credit cards for cash, using public transportation, turning down the heat and putting on warmer clothes. But is that enough? 

On Monday MPR News host Angela Davis spoke with a pricing expert and an economic analyst about consumer prices, inflation and how to cover the gap between your earnings and your bills.

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Researchers predict that consumer prices will rise by 7% in 2022. What does 7% look like at the gas pump or the grocery store? What determines consumer prices? How is the supply chain involved? And, can anything be done about it? On Monday host Angela Davis spoke with two economists about consumer prices, inflation and coping with your bills.

Why is my energy bill so high?

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