American consumers are bearing the costs of higher prices for goods and services as inflation worries heighten. According to The Wall Street Journal, prices have jumped by double-digit percentages from a year earlier, hitting on the consumers disposable incomes.
Analysts are predicting a jump in the broader inflation measures due to the rising prices of goods and services.
Manufacturers are pushing higher prices to consumers after failing to do so last year at the height of coronavirus devastation.
Analysts see some consumers delaying purchases as they hope prices will come down soon.
The Fed has downplayed rising inflationary pressures, terming the situation temporary due to supply chain challenges.
Consumer prices rose 2.6% in the year that ended March, the largest annual jump since August 2018 U.S stocks are mixed as the dollar declines. SPY is up 0.095% on premarket, QQQ is down 0.30% on premarket, EURUSD is up 0.06%
