Fed’s preferred inflation measure rose 4.7% in May, around multi-decade highs
It's just gonna continue folks...
"Core personal consumption expenditures prices, excluding food and energy, rose 4.7% from a year ago, slightly less than expected.
"Core personal consumption expenditures prices rose 4.7% from a year ago, 0.2 percentage point less than the previous month but still around levels last seen in the 1980s. Wall Street had been looking for a reading around 4.8%"
(.1%, yeah I'd say that's SLIGHTY less, maybe they should get with the defense department and together they could decide when the "early 2020's" are or when they end.
:-). OMG I crack myself up, I really do.)
"That kept year-over-year inflation at 6.3%, the same as in April and down slightly from March’s 6.6%, which was the highest reading since January 1982.'
“The rising cost of living absorbed all of the increased spending power from added jobs and higher wages in May,” said Bill Adams, chief economist for Comerica Bank. “Americans are running faster just to stay even. No wonder consumer confidence is in the pits.”
(“Americans are running faster just to stay even." Did it my whole life, its why I said forget it, if I'm gonna be poor? I'll be poor on my own terms, not working like a slave to a piece of paper just to keep getting further behind, no thx.)
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