Thursday, July 29

Inflation Rates In US Hit 13 Year High, Gas Prices Skyrocket

Courtesy: FB

According to AAA, gas prices across the United States are averages $3.15 per gallon, which is the highest price at the pump in at least seven years. 

In addition, inflation is at a 13 year high in the U.S. as many companies raise prices to offset higher costs for materials, gas and vehicles.

According to Fox Business some of the companies hiking prices: Harley Davidson will implement a 2% surcharge, Whirlpool will hike prices by 12%, General Mills will increase prices by 7%,, and Constellation Brands, who sell alcoholic beverages such as Corona beer and Svedka vodka will also have price hikes.

CFO Garth Hankinson said,

“We expect significant inflation headwinds to ramp up during the second half of our fiscal year.”