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Posted on 05/12/2026 8:14:21 AM PDT by CondoleezzaProtege
The consumer price index rose at a seasonally adjusted 0.6% for the month, putting the one-year pace at 3.8%, the highest since May 2023.
Excluding food and energy, the core CPI increased 0.4% and 2.8%, respectively, keeping inflation well above the Federal Reserve's 2% goal.
Though energy and in particular gasoline has been much of the headline story, inflation pressures also came from a variety of other areas.
The report also contained bad news for workers, as real average hourly wages slipped 0.5% for the month and fell 0.3% annually.
"Inflation is the key drag on the U.S. economy now," said Heather Long, chief economist at Navy Federal Credit Union.
"This is hurting Americans. There is a real financial squeeze underway. For the first time in three years, inflation is eating up all wage gains. This is a setback for middle-class and lower-income households and they know it."
(Excerpt) Read more at cnbc.com ...
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Tell the families who have had their loved ones held hostage, raped and/or murdered, and whose nations and way of life are being destroyed by ‘migrants’ pushed by the global idiocy that your life is too hard because gas prices went up for a short time in 2026.
Iran is not singularly responsible for all of that, but their stated goals include ‘death to America’, ‘death to Jews’, institution of a global caliphate, with total submission to their Islam - including subjugation of non-Muslims. They have also recently slaughtered over 40,000 of their own people because they protested against the regime. If we have to pay higher prices for a period in order to prevent people like that from obtaining nuclear weapons, so be it.
CNBC - No credibility, IMHO.
Apparently it was a 1 month technical blip.
Gee, who was president then? I can't recall. Funny how CNBC didn't remind me.
“CNBC - No credibility, IMHO.”
***********
I don’t like CNBC either but the numbers are correct. The 12-month energy increase of 17.9% and food at home prices being up 0.7% over the month (8.4% annualized) are factual. One thing CNBC did not report was that five of the six major grocery store food group indexes increased in April.
These kinds of numbers are especially impactful on retirees living mostly on fixed incomes. There’s no getting around that reality.
Temporary energy cost increases...that will plumment. We are very strong economically.
You don’t like CNBC?
Here’s Fox Business:
“The Bureau of Labor Statistics on Tuesday said that the consumer price index (CPI) – a broad measure of how much everyday goods like gasoline, groceries and rent cost – rose 0.6% from a month ago and is 3.8% higher than last year. That’s the highest level since May 2023.”
A. Inflation was a prime reason for the November 2024 election results.
B. The key takeaway of the May 2023 number that it was a milestone in a DOWNWARD trend.
The problem with food is the consolidation in the food industry...5 meat packers (3 foreign), 4 cereal makers, 2 bread producers, 2 restaurant suppliers, and at the farm level, 2 seed producers, 2 fertilizer producers, 3 tractor makers. Less competition means higher prices. Time for a mass breakup of the food business.
Less competition means higher prices
Control the food, Control the people.
“Time for a mass breakup of the food business.”
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Probably a beneficial thing as oligopolies can wield a lot of market power. That said, energy prices have been rising and diesel is averaging around $5.60 right now. That’s a food cost item that’s passed along to consumers. Likewise with higher fertilizer prices.
Tomorrow’s PPI will be interesting. The last one was 4.0%; forecast looks to be 5%.
“CNBC - No credibility, IMHO”
These numbers came from President Trump’s Bureau of Labor Statistics. Mann it is getting real old constantly hearing people make lame excuses for news they don’t like.
The price of diesel effects every commodity in the world. All container ships, locomotives, semi trucks/lorries all run on diesel. So, it has an effect on all products shipped anywhere in the world.
I am a lumber broker. Most lumber in the USA ships on rail cars or flatbed trucks. The rates I have been paying to ship lumber on flatbeds started going up last October. For example, if I was paying $1500 to go from Portland to Boise on a maxi flatbed, I am paying $1700-1800 currently. Roughly a 15% increase.
The larger increase is on longer haul trucks. When we are moving product from Maine to Oklahoma we were paying $2/mile. Now we are paying $3/mile or more. A 33% increase in freight.
Some of the increase recently is due to the fuel increase. The balance of the increase is due to the lack of trucks.
This is due to pulling the illegal truck drivers out of the rigs. The illegal drivers were working mostly for the larger companies that employed hundreds of drivers. They typically were not working for the smaller trucking companies with less than ten trucks.
In addition, all the US major railroads(UP,BNSF,CN, CPRS,CSXT,NS) all took a 5% fuel surcharge increase on the first of May.
The price of a container crossing the ocean has also increased. Not sure exactly how much because I personally do not buy any no North American products. Other people in my office do.
“we were paying $2/mile. Now we are paying $3/mile or more. A 33% increase in freight”
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Not knowing the details but wouldn’t that be a 50% increase?
Hooverville:
31+ Trillion Dump
* Trumpville II
* Bidenville
* Trumpville I
* O-ville
* Bushville II
* Clintonville NFTA
* Bushville I “read my lips”
ALL Big Un-Beautiful Bills Government
ALL of them. ✖️☢️
That is a good answer.
You are correct. The longer haul trucks have had as much as a 50% increase.
MATH IS HARD!
Time to blow them to smitheries and rap this up.
The problem with inflation is its self reinforcing nature. When inflation is running hot we tend to extrapolate higher rates into our cost projections to protect ourselves financially. This can quickly become a new normal that is hard to back away from. It evolves into a mindset thing which makes inflation so difficult to contain and/or reverse. JMHO
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