ð¨ Stock Market TANKS 600 POINTS At The Open ð¨ Inflation Hits 40 Year High
That was once considered a bloodbath. Now it’s just another day under the Biden regime.
U.S. Inflation Hit a New Four-Decade High in May
U.S. consumer inflation reached an 8.6% annual rate in May, its highest level in more than four decades as surging energy and food prices pushed prices higher.
The Labor Department on Friday said that the consumer-price index increased 8.6% in May from the same month a year ago, marking its fastest pace since December 1981. That was also up from April’s CPI reading, which was slightly below the previous 40-year high reached in March. The CPI measures what consumers pay for goods and services.
May’s increase was driven by sharp rises in the prices for energy, which rose 34.6% from a year earlier, and groceries, which jumped 11.9% on the year. Prices for used cars and trucks rose 1.8% in May from April, reversing three months of declines. Shelter costs, an indicator of broad inflation pressures, accelerated on a monthly basis in May and were up 5.5% compared with a year ago.
Stock market opening bright red. Down 9 of 10 weeks. Build back better my pink Irish ass.
— kelley (@gokelleyrun) June 10, 2022
Prices for energy jumped 34.6% from a year earlier, while the cost of groceries rose 11.9% on the year. Shelter costs, an indicator of broad inflation pressures, also accelerated.
Source: https://gellerreport.com/2022/06/stock-market-tanks-600-points.html/
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