The holiday season is going to weigh a lot heavier on the finances of many American families this year thanks to inflation that is running hotter than has been seen in over a decade.
The Department of Labor issued its twin inflation reports, known as the Consumer Price Index and the Producer Price Index, this week. They both showed the prices of many popular holiday gifts have shot up over the past twelve months.
- Toys, games, and children’s vehicles: + 5.8 percent.
- Sporting and athletic goods: +12.0 percent.
- Sports vehicles including bicycles: +8.9 percent.
- Televisions: +12.9 percent.
- Pets and pet supplies: +4.2 percent.
- Home electronic equipment: +6.4 percent.
- Home appliances: 5.0 percent.
- Major appliances: 9.7 percent.
- Cameras and photographic equipment: +6.9 percent.
- Computers and smart home assistants: +8.5 percent.
Don’t forget, food prices are way up too.