INFLATION HITS HIGHEST LEVEL SINCE 1993, 28 YEAR HIGH
Why oh why does it seem nobody cares? Why is this not the biggest financial indicator of what will crush the middle class in America? Congress and Biden keep talking about "infrastructure deals", mean while my gas, electricity, food, hospital services, Rx medications, transportation, cost of services, consumable items, and loan costs have all increased in price since Jan 21st of this year. And Congress is busy spending more of our tax money. Inflation is a process and not a one-time event. We have been watching the process in real time since the day Joe Biden was sworn into office.
Inflation has been warming up this spring, and it’s expected to hit historical levels for the month of May.
The consensus forecast for the core consumer price index, which excludes food and energy, is 3.5% on a year-over-year basis, according to Dow Jones. That’s the fastest annual pace in 28 years.