CPI

Oceanside NY

Description

The Consumer Price Index measures the average change in prices over time that consumers pay for goods and services. Here's how that affects you: The following are increased from this same time last year: • Gas is up 45.1% • Energy is up 24.5% • Oil is up 44.5% • Used cars are up 45.2% • Food is up 2.4% • Clothes are up 4.9% • Transportation services are up 10.4% Effect on small businesses: This inflation data comes as Goldman Sachs released a survey that found most small businesses are feeling the effects of inflation: • 83% of small business owners have felt the increase in operating costs • 48% of small business owners have raised their prices due to inflation Thomas Sowell once wrote: "Inflation is a quiet but effective way for the government to transfer resources from the people to itself, without raising taxes. A hundred-dollar bill would buy less in 1998 than a $20 bill would buy in the 1960s. This means that anyone who kept his money in a safe over those years would have lost 80% of its value, because no safe can keep your money safe from politicians who control the printing presses."