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Soaring Food and Energy Prices Drive Inflation Higher in May

The May report is mostly bad news. The jump in energy and food prices were expected, nonetheless it will hit consumers hard. It seems likely that the rise in interest rates and slower growth will reverse price increases in more areas soon, notably cars…

The May report is mostly bad news. The jump in energy and food prices were expected, nonetheless it will hit consumers hard. It seems likely that the rise in interest rates and slower growth will reverse price increases in more areas soon, notably cars, but it has not happened yet. Soaring energy and food prices, More

The post Soaring Food and Energy Prices Drive Inflation Higher in May appeared first on CounterPunch.org.


This content originally appeared on CounterPunch.org and was authored by Dean Baker.


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