Headline Inflation Numbers Hide Real Impact

The latest Consumer Price Index (CPI) is up 8.6% over the last year, which is the highest inflation reading since 1981. But this headline figure obscures the fact that prices of many essential goods — from supermarket staples to gasoline and housing — are rising even faster, with prices up by double digits over the past year.

This chart shows why, in poll after poll, inflation is now the top concern of voters heading into the 2022 midterm elections.

Chart comparing prices of goods today to a year ago displaying rise in inflation