The latest US consumer price index report was recently published and for the 12-month period ending December 2021, the all items index rose 7.0%. This is the largest 12-month increase since June 1982. Here's a breakdown:

• Gasoline (all types): +49.6%

• Used cars and truck: +37.3%

• Meats/fish/poultry/eggs: +12.5%

• New cars: +11.8%

• Food at home: +6.5%

• Electricity: +6.3%

• Food away from home: +6.0%

• Apparel: +5.8%

• Transportation: +4.2%

• Shelter: +4.1%

The obvious standouts here are the price of gasoline and the price of used cars and trucks. Too much demand and not enough supply, it would seem. But the other conspicuous line item for me is shelter at only 4.1%. Is that it?

The latest US consumer price index report was recently published and for the 12-month period ending December 2021, the all items index rose 7.0%. This is the largest 12-month increase since June 1982. Here's a breakdown:

• Gasoline (all types): +49.6%

• Used cars and truck: +37.3%

• Meats/fish/poultry/eggs: +12.5%

• New cars: +11.8%

• Food at home: +6.5%

• Electricity: +6.3%

• Food away from home: +6.0%

• Apparel: +5.8%

• Transportation: +4.2%

• Shelter: +4.1%

The obvious standouts here are the price of gasoline and the price of used cars and trucks. Too much demand and not enough supply, it would seem. But the other conspicuous line item for me is shelter at only 4.1%. Is that it?