Welcome to the world where US inflation just won’t quit surprising us! Annual inflation in June jumped to 2.7%, the highest in the last four months, with food and transport prices running wild like never before. Food prices rose 3%, and transport costs soared 3.4% compared to May. Used cars and trucks got pricier by 2.8%, up from May’s 1.8%. Energy prices fell, but only slightly — gasoline dropped 8.3%, heating oil 4.7%, much less than the previous month. The Federal Reserve is popping champagne because inflation is slowing, but economists warn: if the Fed doesn’t cut rates in September, the world might be in big trouble. The monthly consumer price index rose 0.3% in June, the highest in five months. So while everyone hopes inflation will stop, the reality is food and transport still have us in a chokehold. Think this is the end of the world? Maybe you haven’t been watching silver and gold prices — but that’s a story for another day. For now, enjoy this inflation circus and feel free to share your thoughts — is this just the beginning or the end? Who knows, maybe your comment will make watching prices climb a bit more fun!
US Inflation Madness: Food and Transport Prices Soar While Fed Cheers Slowdown
