Inflation reared its ugly head this week as year-over-year consumer and producer prices jumped notably.
The Consumer Price Index rose 5.4% in July, matching the prior month's gain as the fastest since August 2008, while prices at the producer level jumped 7.8%, the most on record, according to the U.S. Bureau of Labor Statistics.
FOX Business digs into the numbers to see what consumers are paying up for.
INSIDE THE CPI Report:
Gasoline Prices +41.8%
The index for gasoline rose by 2.4% in July after rising by 2.5% in June.
The index for natural gas also showed an increase of 2.2% following a 1.7% increase in both May and June.
Used Car & Truck Prices +41.7%
The index for used cars and trucks showed an increase of 0.2% in July following an increase of at least 7.3% in April, May and June.
Prices of Major Appliances+12.3%
The index for major appliances rose by 0.9% in July following an increase of 2.7% in June.
Car & Truck Rental Costs +73.5%
The index for car and truck rental costs declined by 4.6% in July following an increase of 5.2% in June.
Airline Fares +19%
The index for airline fares declined by 0.1% in July after showing a sharp increase in recent months.
Hotel & Motel Costs +24.1% in July From a Year Ago
The index for hotels and motels rose by 6.8% in July after showing an increase of 7.9% in June.