The Midwest Consumer Price Index (CPI) increased 5% year-over-year in May, exceeding the national rate of 4.2%.

Local Impact

According to the U.S. Bureau of Labor Statistics, gasoline prices saw the largest spike, increasing 45% in the Midwest compared to 40.5% nationally. Housing and energy costs also contributed to the region’s higher inflation rate.

Rachel Blakeman, director of the Purdue University Fort Wayne Community Research Institute, noted that the data shows continued strain on household budgets. “Consumers have been complaining for years now about price increases and cost of living, but unfortunately the May data do not show any measurable relief on that front, especially for routine and ordinary expenses like gasoline, food, clothing, or housing-related expenses,” Blakeman said.

Economists warn that persistent inflation may force consumers to cut spending, adjust lifestyles, or rely more heavily on credit to manage everyday expenses.

Original reporting: WOWO News/Talk (Fort Wayne) — read the source article.