Inflation rose 8.6% in May, highest since 1981

CNBC ^ | 6/10/2022 | Jeff Cox

[Tell It Right]

The consumer price index for May was expected to increase 8.3% from a year ago, according to Dow Jones estimates.

[Tell It Right]

My take: This is downward pressure for stock prices. It basically says the Federal Reserve will have to work harder than expected to fight inflation.

[abb]

Unexpected...

[TexasFreeper2009]

Carter 2.0 this time with Dimentia!

[Tell It Right]

Imagine what the CPI rate (the “official” inflation rate) would be like if it included gas prices and grocery prices.

[Flick Lives]

Best inflation ever!... Oh, wait.

[JonPreston]

Bad news even the Democrats can’t pretend doesn’t exist.

[Oldeconomybuyer]

Consensus economists were expecting an 8.3% increase in May, according to estimates compiled by Bloomberg.

On a monthly basis, the broadest measure of inflation rose at a pace of 1.0%, compared to 0.3% in April.

[Diana in Wisconsin]

Shadow Stats showed Consumer Inflation already at 16% quite a number of weeks ago.

‘Under the Median’ says it’s at 24% right now!

Can’t get the Shadow Stats site to come up for some reason; it’s probably melting down these days!

Let’s Go, Brandon! *SPIT*

[PapaBear3625]

The Producer Price Index is less rigged:

https://www.bls.gov/ppi/

Producer prices for goods up 16.3 percent over the year ended April 2022

The Producer Price Index for final demand increased 11.0 percent from April 2021 to April 2022. Producer prices for goods rose 16.3 percent, while prices for services rose 8.1 percent.

[abb]

Check out Bloomberg’s headline: “unexpectedly.”

[PapaBear3625]

“Imagine what the CPI rate (the “official” inflation rate) would be like if it included gas prices and grocery prices.”

See my post #9

https://tradingeconomics.com/united-states/producer-prices

In the United States, the Producer Price Index for final demand measures price change for commodities sold for personal consumption, capital investment, government, and export. It is composed of six main price indexes: final demand goods (33 percent of the total weight), which includes food and energy; final demand trade services (20 percent); final demand transportation and warehousing services (4 percent); final demand services less trade, transportation, and warehousing (41 percent); final demand construction (2 percent); and overall final demand.

[1Old Pro]

Bad news even the Democrats can’t pretend doesn’t exist.

This is what the networks will be forced to run on prime time and is more important than any campaign commercial by Liz Cheney.

[JonPreston]

Exactly

[cgbg]

“the Federal Reserve will have to work harder than expected to fight inflation.”

The Federal Reserve has been sitting at the bar getting drunk while the inflation dumpster fire is raging outside.

They won’t seriously move their sorry rear ends until the fire reaches their bar stool.

[PghBaldy]

NEXT RELEASE
May 2022 PPI data are scheduled to be released on June 14, 2022, at 8:30 A.M. Eastern Time.

[Uncle Miltie]

1% x 12 months = 12% run rate inflation.

Hold on, folks!

[Uncle Miltie]

Breaking News?

[Zathras]

Now all we need is for Biden to be attacked by a “Killer Rabbit” and we will have gone full circle.

[Boomer]

It’s missing a zero. It’s more like 86.0% inflation.

[upchuck]

CNBC sez:

The consumer price index for May was expected to increase 8.3% from a year ago...

So, in other words the inflation rate is now 16.5% (8.2 + 8.3)?

I think CNBC left out the word "to" in their headline. On the other hand, inflation seems like 16.5%