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YOUR MONEY with Mark: When was the last time inflation was this high?

Financial Advisor Mark Grywacheski joined us live Monday, Nov. 22nd.

DAVENPORT, Iowa — U.S. consumer prices have soared 6.2% in the past year. 

The Consumer Price Index in June of 2020 was just .7% comparatively. Supply bottlenecks are being blamed for the rising costs. Once Americans shift more of their consumption back to pre-pandemic norms, inflation should go down, but when will that happen, and when was the last time inflation was this high? 

Financial Advisor Mark Grywacheski answered that Monday, Nov. 22nd. Inflation hasn't been this high since 1990. 

"Beef prices have increased 24% over the past 12 months," Grywacheski said Monday. "Gasoline's up 50%. Home energy bills are literally skyrocketing."

Inflated prices are expected to slightly drop by the end of next year, but the extent of the drop is not yet known. Your Money with Mark airs live in-between 5:30 and 6:00 a.m.