Indiana Inflation Prices Going Up

Apartment rents are up. So are prices for restaurant meals, haircuts, gym memberships and a cup of coffee. For consumers who have become used to flat or even falling prices for several years, inflation is ticking up. The stepped-up price tags for a range of consumer items are the largest since the Great Recession ended six years ago. They actually reflect a healthier economy: Many businesses have finally grown confident enough to pass their own higher costs on to consumers without fear of losing customers. In June, the price of haircuts jumped 1.6 percent. Beef prices have soared nearly 11 percent in the past year, which has led Chipotle to raise prices for steak by an average of about 30 cents per entree. But not everything is going up… Clothing, furniture, and many appliances are cheaper than they were a year ago in many cases, according to the National Retail Federation.