Economist: High Inflation Costing Americans an Extra $460 per Month

Economist: High Inflation Costing Americans an Extra $460 per Month
A person shops in a supermarket in Washington, DC, on May 26, 2022, as Americans brace for summer sticker shock as inflation continues to grow. Nicholas Kamm/AFP via Getty Images
Jack Phillips
Jack Phillips
Breaking News Reporter
|Updated:
0:00

Decades-high inflation is costing the average American about $460 extra per month, according to a recent analysis released by Moody’s.

A Moody’s Analytics economist, Ryan Sweet, calculated that figure based on data that was released by the Bureau of Labor Statistics last week that showed the Consumer Price Index jumped 8.6 percent yearly in May, which is the largest increase in more than 40 years.

Jack Phillips
Jack Phillips
Breaking News Reporter
Jack Phillips is a breaking news reporter who covers a range of topics, including politics, U.S., and health news. A father of two, Jack grew up in California's Central Valley. Follow him on X: https://twitter.com/jackphillips5
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