WALLET-DRAINER

Prices Spike by 5.4 Percent as Delta Variant Hammers Supply Chain

The worrying inflation is largely down to sharp increases in food and energy prices.

The price of existing in America is going up fast. Prices shot up by 5.4 percent in September when compared to last year, and by 0.4 percent since last month. Data released Wednesday by the Bureau of Labor Statistics showed that consumer prices are still rising fast, as they have for much of 2021. The inflation is largely down to sharp increases in food and energy prices, the data shows, as well as the Delta variant of the coronavirus hammering supply chains. According to CNBC, President Joe Biden is set to announce a plan Wednesday to expand 24-hour operations at ports in Long Beach, California, and Los Angeles to help move goods off of waiting container ships and ease the intense pressure on the supply chain.