“Though CPI’s spike is led by energy and food prices, which are largely global problems, prices continue to mount for domestic goods and services, from shelter to autos to apparel.”
Energy went up 7.5% in June after a 3.9% increase in May. The energy index increased 41.6% from 12 months ago.Rental costs went up 0.8%, the biggest increase since April 1986.make the Fed act“Rather than cooling down, inflation is heating up,” Sal Guatieri, senior economist at BMO Capital Markets, said in a note.
Fed policy makers have already signaled a second 75 basis-point hike in interest rates later this month amid persistent inflation as well as still-robust job and wage growth. Even before the data were released, traders had already fully priced in such a move. Now, they also see around a one-in-three chance that it could be a full percentage point.Putin’s price hike, y’all.
Brutal inflation report shows a devastating increase of 9.1.% year-over-year. Bidenflation is wreaking havoc on workers, families & small businesses – a consequence of anti-American energy policy, exorbitant borrowing & printing of money & counterproductive federal regulations.
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