Article can be found here.
Thanks Joe Biden. Why we need to change course in 2022. Inflation higher than expected in June as price index rises 5.4%. But but the fed said this is just short term remember? Yeah right.
Inflation continued its rapid surge in June, rising its fastest pace in nearly 13 years, the Labor Department reported Tuesday.
The consumer price index increased 5.4% from a year ago, the largest jump since just before the financial crisis. Economists surveyed by Dow Jones had been expecting a 5% gain.
Stripping out volatile food and energy prices, the core CPI rose 4.5%, the sharpest move for that measure since September 1991 and well above the estimate of 3.8%. On a monthly basis, headline and core prices both rose 0.9% against 0.5% estimates.