Caleb Silver, Editor in Chief INVESTOPEDIA - July 15, 2021 - KRDO's Morning News

Inflation surged in June at its fastest pace in nearly 13 years amid a burst in used vehicle costs and price increases in food and energy. The consumer price index increased 5.4% from a year earlier, the largest jump since August 2008, just before the worst of the financial crisis. While the jump in prices was not unexpected, the goods that have seen the sharpest increases are the ones that hit consumers' wallets the hardest. Investopedia's editor in chief, Caleb Silver breaks down where prices are rising, and what impact it could have on consumer spending at this stage of the recovery, and how long it might last. Plus, the weekly jobless claims are out at 8:30AM ET, and will shine a light on whether Americans are getting back to work as the labor shortage hampers the recovery.