Reprinted from Sara Carter's news page.
The U.S. Labor Department reported consumer prices for May accelerated 5%, their fastest pace in almost 13 years. Economists surveyed by the Dow Jones had previously predicted that the Consumer Price Index, or CPI would increase by 4.7%.
Prices haven’t jumped this much since August of 2008, just before the U.S. spiraled into the Great Recession. Even last month saw a price jump of 4.2% from April 2020. Since the year began, the price index has increased 3.8%.
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NOTE: The opinions expressed in the Sara Carter posts are not necessarily (but probably pretty much) the opinions of Cogny Mann.
I don't necessarily endorse all content from this site but it's always good to get different perspectives. https://saraacarter.com/inflation-is-here-prices-jump-5-in-may-alone-not-seen-since-2008/