GLO CPAs LLLP

Sometimes we talk about inflation like it's a tangible thing that everyone knows about, but it can be a bit confusing. The inflation rate is the change in price over a period of time (like a month or a year) for about 80,000 items that the US Bureau of Labor Statistics collects into something called the Consumer Price Index. Housing is about 32%, food is 14% and transportation commodities represent about 8% of the total. I'm not sure who decided how much each should contribute to the whole thing, but each of the items is affected by market forces differently, so combining them into a single measure is just a guess. So when the news reader says that the inflation rate is now 8.3%, keep in mind, they are just saying "the price of stuff is higher than it used to be and probably will be for a while." https://econ.st/3xzcnK6

The world thinks Texas is a pretty good place to do business! Texas is open for business! Who's next? https://on.wsj.com/3BuDVS9