Today 10:02 am
US inflation accelerated in May to the fastest pace in more than three years as the Iran war pushed up energy prices, outstripping Americans’ pay gains.
The consumer price index climbed 0.5% from April and 4.2% from a year earlier, the most since early 2023, according to Bureau of Labor Statistics data out Wednesday. An underlying gauge of inflation that excludes food and energy, however, rose a less-than-expected 0.2% from the prior month.
https://www.bloomberg.com/news/articles ... e-americas
Now, if you were to annualize the latest number, you'd come up with 6% per year.
And you will be shocked to learn who told you about it months ago...
Thoughts
The consumer price index climbed 0.5% from April and 4.2% from a year earlier, the most since early 2023, according to Bureau of Labor Statistics data out Wednesday. An underlying gauge of inflation that excludes food and energy, however, rose a less-than-expected 0.2% from the prior month.
https://www.bloomberg.com/news/articles ... e-americas
Now, if you were to annualize the latest number, you'd come up with 6% per year.
And you will be shocked to learn who told you about it months ago...
Thoughts