Axios: Inflation Continues To Rise In May

Unlike COVID infections, this is a number which is headed in the wrong direction. See also violent crime, gas prices and illegal immigration.

Axios:

“Consumer prices rose last month by 5% compared to May of 2020, marking the biggest year-over-year gain since August 2008, according to Consumer Price Index data released this morning. Prices were 0.6% higher in May than they were in April.

Why it matters: April’s CPI reading intensified concerns that inflation is heating up and will be hard to contain. Today’s data could stoke those fears further and contribute to a self-fulfilling cycle of rising prices.

Zoom in: Used vehicle prices increased 7.3% month-over-month in May, on the heels of a 10% monthly gain in April. Since a year ago, used vehicles are 29.7% more expensive. …

Food prices rose 0.4% in May, after a 0.4% gain in April. They’re 2.2% higher than a year ago.

Energy costs are 28.5% higher over the last 12 months.

Apparel has gone up 5.6% since this time last year.

Medical care commodities was the only category that saw a decrease from a year ago, dropping 1.9%. …”

Axios:

“While a 5% increase in the Consumer Price Index grabbed headlines on Thursday, a third of it was driven by higher prices for used cars and trucks, which jumped 29.7% from a year ago. And the gas index was up 56.2%. …”

Axios:

“Inflation and recent increases in the national debt were among most of the voters’ chief concerns.

Eight of the 13 voters said they are apprehensive about inflation in their area, citing costs going up in a number of sectors, including groceries, gas, oil and real estate.

10 of the 13 voters are worried about the national debt. They fear tax hikes and believe that Social Security is at stake. …”

We were told it was temporary.

Then we were told actually it was great.

Then we were told that prices would continue to rise through the summer.

As with illegal immigration and violent crime, we can now say that inflation continued to rise in both April and May. We will continue to monitor the situation. Maybe it is temporary. Maybe that is bullshit and ass covering. We’re going to find out soon enough.

About Hunter Wallace 11873 Articles
Founder and Editor-in-Chief of Occidental Dissent

9 Comments

  1. Rampant inflation and a vastly decreasing consumer power will be the final stake in the vampire…

      • @Arrian…

        Sir, you may be too young to remember, but, in the late 1970s, as The Carter Administration led this economy downwards, The American People did not take it well.

        And this economy, is, already at the outset, nearly as bad as was The Carter Economy at it’s worst.

        So, smart or not, you watch : when The American People go to the store and find more and more things out of their reach or have to fork over $60 at the gasoline pump, you are going to see a hissy fit like you’ve never seen before.

        This Modern America, already an unpleasant place to live, is still running on 3 pillars of luxury – Automotive Mobility, Instantaneous Communication, and Cheap Consumer Goods.

        When the latter goes, at this rate sometime late in The Biden Administration, all hell is going to break loose.

        Nope, The Democrats made a successful conspiracy to take office just as the ship was set to sink, and they are not going to like that process one bit.

        So, no, this ain’t about smarts’.
        Thank you, as per usual, however, for your thoughts.

        • Ivan,
          you could be right, but as gullible stupid ppl are, they’ll believe inflation is caused by WHITE supremacy. I’m sure the media will push that theme.

  2. Print money recklessly, and they expect what ?

    This is just the initial phase.
    If historical precedent holds, inflation will accelerate at increasing rates, compounded.

  3. The fed reserve must print oceans of money to counterbalance the fantastic levels of debt, otherwise everything would collapse, under the debt burden.
    To stop printing money would be catastrophic, to keep printing money will be catastrophic, but later. Jim Rogers speaks frequently, on these dangers.

    1920-21, “the german economic miracle”, 1923 , 4 trillion marks to a dollar, a lifetime of pension savings won’t buy a postage stamp.

    Printing money is very dangerous.

    • @Arrian…

      The Fed has been printing money like gangbusters, which, as you say, that is very dangerous.

      Basically, Rothschild’s Fed has been trying to cover up for the fact that the country has been pillaged for 4 decades under the presidential and congressional approved Greenspan economy that, while pirating out practically all our manufacturing, thought to cover it up with the reimportation cheap goods with the unconstitutional relaxation of tarifs..

      However, with the dollar sinking below the cellar floor, and the national debt fast approaching 30 trillion dollars ($30,000,000,000,000) the real bill of all this pillaging is about to hit, and the effeckts of it ain’t gonna be pretty.

      No, Sir, it won’t be.

  4. “(R)eal wages for US workers have declined every month in the last year (…) The high rate of inflation completely erases the nominal increases in hourly earning within the last year. According to data provided by the United States Department of Labor, average hourly earnings rose from $29.74 to $30.33 from May 2020 to May 2021, a nominal increase of less than 2 percent. With a year-to-year inflation rate of 5 percent, this means workers have seen their real wages decline by more than 3 percent within the past year (…) the US economy has 7.6 million fewer workers compared to the February 2020 pre-pandemic level (…) While everything is becoming more expensive for workers, those who own stock and other property are becoming ever wealthier. The S&P 500 rose to an all-time high on Thursday….” https://www.wsws.org/en/articles/2021/06/11/cols-j11.html

    Another excellent article: https://www.wsws.org/en/articles/2021/06/11/pers-j11.html

  5. “Greenspan economy that, while pirating out practically all our manufacturing, thought to cover it up with the reimportation cheap goods with the unconstitutional relaxation of tarifs..”

    Did you ever say it !

    Importing the cheap products is the way they masked inflation, for about 3 decades.

    Ain’t goin’ to work no mo’.

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