Inflation in May Rose to Its Highest Rate Since 1981

Video Credit: Wibbitz Top Stories
Published on June 10, 2022 - Duration: 01:30s

Inflation in May Rose to Its Highest Rate Since 1981

Inflation in May Rose to , Its Highest Rate Since 1981.

The Bureau of Labor Statistics released its May report on June 10.

The agency found that inflation continued to rise in May, up 8.6 percent from this time a year ago.

The consumer price index rose more than the 8.3 percent analysts had predicted.

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It is the fastest increase of inflation in the U.S. since December of 1981.

According to CNBC, steep increases in gas, food and shelter prices all played a significant role.

According to CNBC, steep increases in gas, food and shelter prices all played a significant role.

According to CNBC, steep increases in gas, food and shelter prices all played a significant role.

Food prices are up 10.1 percent since the beginning of the year.

On account of inflation, real wages dipped in April by 0.6 percent.

This was despite hourly wages rising by 0.3 percent during the same period.

The industries with the steepest price increases include air travel, used cars and trucks and dairy.

The industries with the steepest price increases include air travel, used cars and trucks and dairy.

The industries with the steepest price increases include air travel, used cars and trucks and dairy.

Obviously, nothing is good in this report, Julian Brigden, MI2 Partners President, via CNBC.

There is nothing in there thatโ€™s going to give the Fed any cheer, Julian Brigden, MI2 Partners President, via CNBC.

I struggle to see how the Fed can back off, Julian Brigden, MI2 Partners President, via CNBC.

Fears of economic recession continue to mount following the release of the data.

Officials with the Biden administration cite supply chain issues, increased demand despite rising costs and the war in Ukraine.

The Federal reserve is expected to raise interest rates again soon


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