This week on “Inside the Economy”, we discuss the recent change in inflation and the current housing market. There has been a boost in headline inflation, driven by rising fuel prices and increased travel. Is this trend here to stay or is it a temporary reaction? Personal savings grew over the last year, but consumers are looking to make up for lost time with increased spending in 2021. Low housing inventory is driving up prices, but which sector of the housing market has the lowest supply? Tune in to learn about this and more!

Key Takeaways:

-Retail Sales hit a new high after a year of increased savings

-Headline CPI grows higher, driven by fuel prices, while Core CPI stays under 2%

-Gasoline supply returns to pre-pandemic levels as travel improves

-Sparce inventory in low-income housing has driven up prices, while interest rates remain low

-State and local tax revenue continued to grow in 2020, despite the pandemic