Inflated Expectations

The Consumer Price Index reached 40-year highs for percentage increases for the start of 2022 after hitting a 30-year high in 2021. The Producer Price Index, the measure that more closely indicates cost pressures on businesses like Indian casinos, increased even more rapidly in 2021 as shown in Figure 1. Of the various components of the Producer Price Index, final demand construction costs increased the most of all as shown in Figure 2....