The shifting prices of planes, games, and automobiles

6/14/24 9:52AM

Inflation, but make it slower

The latest Consumer Price Index (CPI), a weighted basket of various goods and services, was unchanged month-over-month in May and rose 3.3% on a yearly basis, down from the 3.6% reported in April and the softest reading since July 2022.

Let's reiterate: just because the headline reads "Price rises are slowing" doesn't mean prices are falling, rather, they are just increasing at a slower pace. With the average grocery or electricity bill still higher than a year ago, it’s very hard for Americans to enjoy the fruits of what the data suggests is actually a pretty strong economy. It seems, beyond a certain point, that inflation is kind of the only thing that matters.

So, where is inflation still hitting hardest?

Because of the wide array of products and services in the CPI basket, no single item has risen by exactly 3.3% over the past year…. So we decided it was again time to ask one of our favorite questions when the report comes out: exactly where are prices rising?

Bad news: Americans have seen what’s likely their biggest monthly expense, shelter, rise 5.4% from last May — a particularly sore point in an area where even a decimal point change can weigh heavily on one's finances. Sports fans and road users will be feeling the pinch too, as attending sporting events and insuring your vehicle are both up ~20-22%.

Slightly less bad news: Prices at the gas pump have dropped from April, but are still up 2.2% year-over-year. Food at home has remained relatively flat in recent months (up 1% over the year). However, for the growing share who are eating out more often, the 4% increase of restaurant bills or fast-food orders means dining out will be taking a bigger bite out of their finances.

Good news: Flying across the country (-5.9%) and renting a car upon arrival (-8.8%) have both continued to drop in price, which is great for anyone with big summer trip plans. Entertaining your children and teens, whether with a toy (-7.8%) or a new TV (-6.6%), is also cheaper than it was last year.

Saleah Blancaflor

5/15/26

From Desi Arnaz to SpaceX: Understanding the rules of the modern economy

We talked with “Planet Money” author Alex Mayyasi about how AI might help or replace you, the superstar effect, and how the compounding effect extends beyond money.

Globes covered with various currencies suspended in space

Millie Giles5/8/26

Ahead of Mother’s Day, Google searches for “same day flower delivery” have ticked up a little earlier this year

If you’ve already made plans for a Mother’s Day gift in advance of this Sunday, congratulations. But if alarm bells are suddenly ringing, consider this a gentle reminder that, like a sizable share of the US population this time of year often does, you can still scrape together some last-minute flowers for the woman who carried you for nine months.

Data from Google Trends reveals that searches for “same day flower delivery” spike in the US in May every year, when Mother’s Day takes place. As we noted last February, the same query also gains traction around Valentine’s Day.

This year, however, it appears that searches for last-minute flowers have remained elevated in the last two months after the usual peak in February — with the search interest this April actually exceeding that seen around Cupid’s Day.

Honestly, we’re not sure why searches are spiking a little early. One explanation might be that Passover and Easter have overlapped at the start of April, and Americans wanted to celebrate with some flowers. Maybe it’s a host of Claude bots that are now running errands for AI-obsessed execs — or perhaps Americans are just impulse-buying some seasonal spring blooms after an unusually warm March, without a particular occasion.