This is CBSI in the world. I'm John Batchel. The Business of America is small business. That's where the employment starts. That's where the small grow into gigantic. And Gene Marks, the small business columnist for the Guardian newspaper, UK and U.S. edition, as well as the

Philadelphia Enquirer, our hometown newspaper, and other distinguished publications, is here to

report first on the state of the economy as we can imagine it now, given that there are some

things we can't see, such as the warning that if and when the tariffs that the White

House has announced are actuated, there will be inflation. But not yet. Gene, a very good

evening to you. Thank you for this. The measures of inflation for services, goods, and shelter over

the year. It does not appear to be a spike as of yet.

It's too early. Good evening to you. Hi, John. Yeah, so far so good. The question is, is it

too early? And the answer is yes. There will be increases in inflation this year. Many economists, including Janet Yellen, are saying

that once some of these tariffs kick in, we could be inflation going up to anywhere between

three to five percent. But right now, that's not the case. The core inflation index,

which includes shelter, was a 1.9% increase year over year.

This is as of the end of May.

Sheltering costs, these are the costs to basically to rent.

That's running close to 4% inflation year over year.

So people that are paying rental payments are paying that much,

you know, that much more before. And then the cost of services are up close to 4% again,

year over year. So you're looking at services. And by the way, John, services are, you know,

we all pay for all sorts of different types of services.

You know, more than half of the U.S. economy is service-based.

So we're looking at, you know, price increases of close to 4% there.

And, of course, you know, people do pay rent.

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