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Inflation Alive And Well In Service Sector
By John W. Schoen, Aug 14, 2015 CNBC
You may be enjoying this year's drop in gasoline pump prices and the price of other commodities. But while you weren't looking, the cost of renting a guest room jumped 9.9 percent last month.
Amid signs that weak commodity prices could spell deflationary trouble for the economy, the rising price of services is offsetting those fears.
Read MoreWhy these falling prices may be bad for you
Led by a steep slide in energy prices over the last 12 months, prices of a wide range of global raw materials—everything from iron ore to sugar—have been falling lately. That's prompted fears that deflation may worsen a global economic slowdown.
But in the U.S., those fears overlook the long-term growth of services, where price trends have been very different.
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