Higher Prices for Food and Gas Will Ripple Through Economy

The May Consumer Price Index report came out and anyone who shops at the grocery stores regularly were not surprised to hear that prices have risen over the past 12 months. Fodd and gas prices were up across the board. Keith Bliss of Cuttone pointed out that the government like to focus on "core CPI" but that doesn't count food and gas, which is what affects consumers most. These higher food and gas costs will eventually ripple through the economy as people begin cutting back on discretionary items. Some companies will struggle with passing on higher costs through to the consumer.