Costs of everyday items are rising the fastest, affecting everything from your breakfast cereal to your light bill

American consumers are kicking off 2022 with some big price increases in everyday purchases. The price of food and utilities surged in January from the previous month, according to the Labor Department. Prices for healthcare and housing have also started to creep up.

Vehicle prices, which have been rising rapidly because of a shortage of computer chips, saw inflation moderate in January but remain well above where they were a year ago.

Continue Reading: Where Inflation Is Hitting Hardest: Prices of Groceries, Utilities, Rent Jump

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