Lockdowns Drive Up Everyday Prices in May

by Robert Hughes
The American Institute for Economic Research

Note: The Everyday Price Index for May is based on incomplete data due to restrictions on data collection by Bureau of Labor Statistics personnel because of the COVID-19 outbreak.

AIER’s Everyday Price Index rose 0.3 percent in May after posting a 0.9 percent decrease in April. The Everyday Price index had fallen for three consecutive months in February through April and has been flat or down in eight of the last 12 months. Over the past year, the Everyday Price Index is down 1.7 percent, the same result as last month. The Everyday Price Index measures price changes people see in everyday purchases such as groceries, restaurant meals, gasoline, and utilities. It excludes prices of infrequently purchased, big-ticket items (such as cars, appliances, and furniture) and prices contractually fixed for prolonged periods (such as housing).

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