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The prices are soaring.  Here is what is getting more expensive


Sending higher prices too: The ongoing pandemic has complicated supply chains, limiting supply, even as demand for goods skyrockets.

Here’s what you need to know about price trends.

Thinking of buying a new sofa? Maybe new bedding? Be prepared to pay more than usual.

Prices for furnishings and home operations, which include categories such as household services and furniture and bedding, rose 1.3% last month. At first, the change does not seem significant, but it is the largest monthly increase since January 1976.

Last spring, as the pandemic brought economic chaos, sawmills closed in anticipation of a housing crisis. This crisis never came. Now lumber prices are skyrocketing as lumber supply has tried, but failed, to keep up with demand.

Transport

For the second month in a row, prices for used cars and trucks jumped. Last month they rose 7.3%, accounting for about a third of the overall price increase in May. In April, prices for used cars and trucks rose 10%, the largest monthly price increase since data on used cars were first recorded in 1953.

New cars also became more expensive, increasing 1.6% in May. This is the largest month-on-month increase since October 2009.

The shift to working from home and the loss of jobs last year have pushed auto sales down. In response, many dealerships have closed. While the demand for cars has returned, the supply has not returned. Auto factories around the world have been forced to shut down or limit production following a recent shortage of computer chips. Now car dealerships have fewer cars on their lots. Strong demand and limited supply continue to drive up prices.

Trip

Americans have been stuck at home for over a year now. But with Covid’s relaxed restrictions and vaccination rates rising, travel is coming back and people are eager to go.

Air ticket prices continued to rise, rising 7% last month. Other modes of transport continued to increase. Car and truck rentals are 12.1% more expensive, and other intercity transport now costs 2% more.

Once you get to your destination, things don’t go so bad. Intra-urban transport prices fell 0.4% last month.

Food

If you are considering buying uncooked roast beef or beef steaks at your July 4th party this year, you might want to reconsider your decision. The price of each rose 6.4% and 4.3% respectively last month. As an alternative, you can try Frankfurters, which are 1.9% cheaper than in April, or ham, which is 2.7% cheaper. Overall, prices for meat, poultry, fish and eggs rose 1.3% last month.

Fortunately, however, pickle prices have fallen 2.1%, soft drink prices have fallen 0.5%, and overall fruit and veg prices have not changed, so you can au less stock up on side dishes and drinks for your end-of-year celebrations.

Notoriously volatile, food prices continue to rise in general. The cost of food rose 0.4% in May. This is the same increase as in April.

Health

While prices are going up, there is good news, especially if you need a doctor.

The Medical Care Index, which includes items such as drugs, medical equipment and health services, rose 0.9% in the past 12 months. Yes, it’s higher than the same point last year, but it’s the smallest increase since March 1941.

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