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That makes sense given how often people need to visit those stores to keep their kitchens stocked.
However, theres another area where prices have been rising much faster than overall inflation.
Heres what experts think aboutwhat this trend could mean for the economy and your finances.
When energy, water and gas costs climb faster than overall inflation, it squeezes both consumers and businesses.
For the broader economy, according to Thor, its a warning sign.
Energy costs often drive inflation rather than just reflect it.
If utility prices stay high, they can keep inflation stubborn, complicating efforts to stabilize the economy.
Immediate Impacts
Thor added that households feel the immediate impact.
Less disposable income means cutting back on non-essentials, which slows consumer spending.
Thors advice for individuals is to reassess energy efficiency at home and lock in fixed-rate utility plans where possible.
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