Inflation Is Surging. The Price Of A Toyota Pickup Truck Helps Explain Why
The Labor Department says consumer prices jumped 5% for the 12 months ending in May. That's the sharpest increase in nearly 13 years, as the economy rebounds from the pandemic recession.
Updated June 10, 2021 at 9:56 AM ET
Prices for a lot of things are surging across the U.S., and John McConnell's recent car-shopping experience helps explain why.
McConnell, from Colorado Springs, Colo., was recently looking for a Toyota Tacoma to replace his two-year-old Nissan Altima and was shocked to see the one he wanted priced several thousand dollars above the sticker price.
He plans to buy it anyway.
"I'm not going through a midlife crisis. I
