Consumer prices jump 5% in May, fastest pace since the summer of 2008

Consumer prices for May accelerated at their fastest pace in nearly 13 years as inflation pressures continued to build in the U.S. economy, the Labor Department reported Thursday.

Consequently, market participants generally do not expect to see the Fed react to the latest numbers when the policymaking Federal Open Market Committee meets next week. However, the energy index was about flat for the month despite the huge runup in gasoline prices this year, while the food index repeated its April rise of 0.4%.

Another report released Thursday showed that jobless claims for the week ended June 5 came in at 376,000. The estimate was 370,000. The total still marked the lowest of the pandemic era.Investors, though, remain heavily focused on inflation, which hasn't been a major threat to the U.S. economy since the early 1980s.

Prices surged across a variety of sectors as the economy continued to recover from the harsh restrictions government officials put in place during the pandemic.

How could 45 do this to us!!!! He just HAD to make Biden’s job harder. HE IS A MONSTER!!!!

Is this inflation or supply/demand? Inflation doesn’t hit this hard ever and we’ve never stopped printing fuck tons of money...look at trumped insane deficit spending.

I heard more stimulus checks fixes this

Was the last time at the beginning of a recovery also?

Nothing matters anymore, absolutely Nothing! The only thing that matters is thefed printing to infinity.

VishalSharmaS11

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