(WXYZ) — In tonight's 7 UpFront segment we're taking a closer look at what the rapid acceleration of inflation means for our purchasing power here in metro Detroit.
Joining us to talk about the most recent consumer price index report is Wayne State University Economics Professor Albert Zhu, Ph.D.
WATCH THE FULL INTERVIEW IN THE VIDEO PLAYER ABOVE.
"So, the reports came out this morning and it very quickly made news headlines. And the number 7.5% for headline inflation and 6% for core inflation, those two are both 40-year highs. And back to 40 years ago, that was the period as we call The Great Inflation. So for me, it generally, definitely is alarming. Yesterday, I was reading some market reports from the market analysis, let's say they were slightly optimistic about the upcoming report," Zhu said.