Key Inflation Gauge at Highest Point Since 1982

The Federal Reserve’s favorite inflation gauge has risen to its highest annual level in 40 years. Including food and energy, the personal consumption expenditures price index increased 6.4% from the same period in 2021, the biggest jump dating back to January 1982.

On a related note, OMA Connections Partner RSM reports that Russia’s invasion of Ukraine risks destabilizing global food markets, adding “to the plethora of challenges” facing food and beverage manufacturers. Wheat and soybeans have seen the biggest price spikes in recent weeks. 3/31/2022