Inflation at 41-year-high at 8.6 percent

Lake Bluff, IL on June 7

The morning after the two-hour hate last night about the January 6th Capitol riot, there is bad news for Americans--the inflation figures for May are out and not surprisingly, the numbers are terrible. 

Of course, the Democrats want to change the subject away from the wretched job they are doing. The Dems control Congress and the White House. A year ago, Joe Biden was calling inflation "transitory." Two nights ago, in a softball interview with Jimmy Kimmell, Biden bragged about the US economy. 

From Yahoo Finance: 

U.S. consumer prices accelerated in May to the highest since 1981, as Americans grapple with a surge in the cost of gas, food, and shelter, data showed Friday. 

The Bureau of Labor Statistics' May Consumer Price Index (CPI) showed a year-over-year increase of 8.6% last month, up from 8.3% in April. Economists were expecting an 8.3% increase in May, according to estimates compiled by Bloomberg. 

On a month-over-month basis, the broadest measure of inflation climbed 1.0%, compared to 0.3% in April. "Core" inflation, which strips out the more volatile costs of food and gas, rose 6% over the prior year in May, more than the 5.9% that was expected. 

The biggest contributors to the latest jump in inflation were shelter, gasoline, and food, according to the BLS. The energy index rose 3.9% month-on-month in May, with the gasoline index rising 4.1%. Compared to the prior year, energy prices in May were up 34.6%, the most since September 2005.