Inflation surge driven by increase in used car and gas prices

by 24USATVJuly 14, 2021, 3:50 p.m. 23
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The latest report from the U.S. Department of Labor shows the Consumer Price Index jumped to 5.4%, the largest increase in 13 years. Experts say the rise is being driven in part by an increase in prices of used cars, gas and hotel stays. Mark Zandi, chief economist with Moody's Analytics, joined CBSN to explain the reasons for the spike and his predictions for the coming year. CBSN is CBS News’ 24/7 digital streaming news service featuring live, anchored coverage available for free across all platforms. Launched in November 2014, the service is a premier destination for breaking news and original storytelling from the deep bench of CBS News correspondents and reporters. CBSN features the top stories of the day as well as deep dives into key issues facing the nation and the world. CBSN has also expanded to launch local news streaming services in major markets across the country. CBSN is currently available on CBSNews.com and the CBS News app across more than 20 platforms, as well as the Paramount+ subscription service. Subscribe to the CBS News YouTube channel: http://youtube.com/cbsnews​ Watch CBSN live: http://cbsn.ws/1PlLpZ7c​ Download the CBS News app: http://cbsn.ws/1Xb1WC8​ Follow CBS News on Instagram: https://www.instagram.com/cbsnews/​ Like CBS News on Facebook: http://facebook.com/cbsnews​ Follow CBS News on Twitter: http://twitter.com/cbsnews​ Subscribe to our newsletters: http://cbsn.ws/1RqHw7T​ Try Paramount+ free: https://bit.ly/2OiW1kZ For video licensing inquiries, contact: [email protected]

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