Economy Inflation

by Angela Stevens | May 23, 2020 | Uncategorized | 0 comments

Inflation In The Current Economy

Largest Inflation Drop Since 2008

Consumer Prices Decline

Amidst the chaos of the current pandemic, the fall in inflation is the silver lining. Consumer prices have declined by 0.8% in April. That is the lowest drop since December 200, the beginning of the Great Recession. Despite the $3 trillion in federal aid, the pandemic is still putting a downward presson prices.

The Stats: According to MarketWatch

Gas prices went down 21% in the past month
Airport traffic plummeted by 90%
Passenger fares decreased 15%
Cost of Groceries increased 2.6%
Cost of meat surged Chicken: 5.8% Beed 3.7%

We still do not know the full impact on wages. Precision staffing does maintain and track statistics and average pay rates by job function. Companies need to know consumer pricing, spending trends and salary rates to make strategic decisions. If you would like any wage data, please contact us today.

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