When you arrange for flower delivery or take a special someone out for dinner this Valentine's Day, it'll cost more than it did a year ago. That's the cold hard fact about a warmhearted and festive day, according official US inflation data.But the rising cost may actually be a relatively small one: Those chocolate or flower prices haven't been rising at gas-pump-fast rates. Here's the official inflation tally of five common Valentine's Day activities, according to the Bureau of Labor Statistics.
Consumer prices rose 0.3 percent in December, largely due to an unexpected jump in gas prices and other energy costs. Gas prices could rise again in late January and put more upward pressure on the consumer price index.
The most important factor determining whether or not monetary inflation will mainly cause consumer price inflation or asset price inflation is simply what the early receivers of newly created money choose to do with them, Karlsson writes.
Most Social Security experts, no matter their political persuasion, know that Social Security must be redesigned, Gleckman writes. With President Obama proposing to change the way government adjusts Social Security benefits, why not redesign it now?
Republicans and many economists argue for shifting to a more accurate inflation measure, Gleckman writes, but a new report suggests that move would raise taxes by nearly as much as it would slow Social Security spending over the next decade.
The consumer price index jumped only 0.6 percent last month, despite a 7 percent increase in gas prices. High gas prices have taken its toll on consumers this year.