The latest inflation report is set to be released on Tuesday, which will reveal new information about how inflation is affecting the prices you pay. According to economists, the report is expected to show a small decrease in inflation during the month of June, due to the decrease in oil prices last month amid the ceasefire in Iran.
Impact of Gas Prices
Gas prices have fallen nearly 20% from their peak in late May but have rebounded in the past week, likely in response to renewed fighting in the Middle East. Gas prices averaged $3.87 a gallon nationwide Monday, up 7 cents from a week earlier. They averaged $4.09 a month ago, according to AAA.
Duke economist Connell Fullenkamp said the increased demand for data centers is also driving up prices for construction materials, technology, and more. A recent study shows North Carolina already has more than 70 data centers, and dozens more will be under construction.
Artificial Intelligence Infrastructure
Economists have said massive investments in the buildout of artificial intelligence infrastructure could also worsen inflation by pushing up prices for memory chips and other semiconductors, as well as electricity. As a result, companies like Apple, Microsoft, and Dell have announced price increases for laptops, tablets, and video game consoles.
Original reporting: WRAL Raleigh — read the source article.
