CNN on Rising Prices: ‘You’re Paying More for Just About Everything’

‘Sticker shock is real and it’s getting worse’


EGAN: “Yes, Ana, sticker shock is real and getting worse. Consumer prices in June were up by more than 5 percent. That's the fastest annual rate that we've seen since 2008. And if you exclude food and energy, prices surged by the most since 1991. Now, let me give you a few real-world examples of the kinds of price hikes we are talking about. Prices for used cars, up 45 percent over the past 12 months. That means a used car that was $20,000 a year ago is now fetching $29,000. Washing machines, up 29 percent over the past year. Another big one is airfare. Up 25 percent over the past year. That means a $400 flight in 2020 is now costing $500 -- Ana?”

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