Consumer News: Producer price index rises 10% in a year, tips to save money at the gas pump and more!
Consumer News with ABC Columbia is brought to you by Grow Financial.
CNN– Prices soared in February, with another key inflation gauge spiking to double digits. The U.S. government says the producer price index, which tracks what Americans get paid for their goods and services, rose 10% for the 12 month period that ended in February. That’s the first time the index hit double digits since the data series began in 2010. Over the one-month time span, producer prices rose 0.8% in February.
CNN– On top of the rising inflation sweeping the U.S., as prices for everything get more expensive, now we’ve got more problems. The amount of product you’re getting in some packaged goods is going down, dubbed “shrinkflation.” A few examples are multiple snack foods, like Doritos and Cheetos. A Frito-Lay spokesperson says they took a few chips out of each bag in order to keep the price the same. The company confirmed they reduced the weight of the bags by half an ounce.
CNN– Gas prices are still soaring throughout the country. While the conflict in Ukraine is partly to blame, the impact is expected to stick around for a while, just as many Americans plan their spring break road trips. Jenn Sullivan tells us three tips to help you save money at the gas pump.
