Economic lookouts say the cost of inflation is finally starting to sink in
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Investors today are hoping inflation has hit its peak. Wholesale prices went up sharply in July, the highest annual inflation rate in 27 years.
Overall, in the last 12 months, inflation was at just under 10 percent. And, last month's 1.2 percent gain was more than double what many economists were predicting. And many of the inflationary increases are showing up on our checkout receipts.
To see how people are feeling the pressures of inflation around the state, Tom Crann checked in with a couple of our economic lookouts. They're members of Minnesota Public Radio's public insight network who are monitoring economic developments where they live and work.
Cassaundra Adler is a Financial Educator from Minneapolis, and she hosts parties to help groups sort through their financial concerns.
Trisha Dillon is a consultant with the Mayo Clinic there, where she also lives with her husband and their four kids.
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