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Inflation rose 3.3% in May – not good news though. Recession, not price reductions

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It may look like good news and the media will slant it to a FJ Biden win – but the reality isn’t price reductions – its a complete slow down of the economy.

I am in construction and I can say that bid activity – there are no bids going on. Its gone completely quiet with new work.

People are in the usual election year paralysis – but its much more extreme than past years.

I think we’ve hit the point where people simply have no money left to spend. the socialists have bled the middle class dry.

www.morningstar.com/economy/may-us-cpi-report-monthly-inflation-flat-may-softer-than-expected

CPI Report Highlights:

  • Overall CPI:
    • Unchanged in May on a seasonally adjusted basis.
    • Increased by 3.3% over the last 12 months before seasonal adjustment.
  • Shelter Index:
    • Increased by 0.4% in May, continuing its rise for the fourth consecutive month.
  • Food Index:
    • Overall food index increased by 0.1% in May.
    • Food away from home index rose by 0.4%.
    • Food at home index was unchanged.
  • Energy Index:
    • Fell by 2.0% in May.
    • Gasoline index decreased by 3.6%.
  • CPI Excluding Food and Energy:
    • Rose by 0.2% in May, after a 0.3% rise in April.
    • Increases observed in shelter, medical care, used cars and trucks, and education.
    • Decreases observed in airline fares, new vehicles, communication, recreation, and apparel.
  • 12-Month Changes:
    • All items index rose by 3.3%, slightly lower than the 3.4% increase in the previous month.
    • CPI excluding food and energy rose by 3.4%.
    • Energy index increased by 3.7%.
    • Food index increased by 2.1%.

www.bls.gov/news.release/cpi.nr0.htm

h/t Rufus Juice

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