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Inflation surges at fastest rate in 13 years hitting 5.4% in June

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Inflation surges at fastest rate in 13 years hitting 5.4% in June with cost of gas rocketing 45% and everyday items like bacon, milk and oranges up 8% compared to last year
  • The CPI has risen 5.4 percent in the 12 months through June, the Labor Department said on Tuesday, which is the largest gain since August 2008
  • The cost of gas skyrocketed 45 percent and everyday items like bacon, milk and oranges increasing 8 percent compared to June 2020, the data shows 
  • The pickup in inflation has heightened concerns the Fed might feel compelled to begin withdrawing its low-interest rate policies earlier than expected 
  • Fed officials have repeatedly said, though, that they regard the surge in inflation as a temporary response to supply shortages and other short-term disruptions 
  • The Biden administration, which has been insisting inflation is just temporary, did not appear to be expecting the surge in June, an official said 
https://www.dailymail.co.uk/news/article...hzwN6fNp18
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Inflation surges at fastest rate in 13 years hitting 5.4% in June - by The Drifter - 07-13-2021, 05:27 PM



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