The Consumer Price Index rose 4.2% in May, the highest in three years, indicating inflation is on the rise, according to the Bureau of Labor Statistics. From CNBC:
"The consumer price index, a broad gauge of goods and services costs across the U.S. economy, rose at a seasonally adjusted 0.5% for the month, putting the annual inflation rate at 4.2%, the Bureau of Labor Statistics reported Wednesday. Both numbers were in line with the Dow Jones consensus though the monthly number was 0.1 percentage point below the April reading.
Inflation climbed above 4% for the first time in three years, though the increase met expectations amid concerns over how much the surge in energy prices would impact the economy. The level was the highest since April 2023 and above the 3.8% reading from April. [snip]
'Americans are getting squeezed financially by inflation that’s back at a 3-year high,' said Heather Long, chief economist at Navy Federal Credit Union. 'The frustration for many Americans is that so many of the basics are up in price right now -- gas, food, electricity, and medical care are all clear pain points that are above 3% inflation. Ending the war in Iran will help to moderate inflation, but the worst is likely still to come for rising food prices.' [snip]
With the U.S. caught in ongoing hostilities with Iran, concerns are rising that the surge in oil prices could spread to other energy-sensitive parts of the economy. Markets were rattled again Wednesday when President Donald Trump warned that Iran will “pay the price” for not taking a peace deal." (our emphasis)
The demented and ignorant Malignant Fascist's reckless war on Iran, coupled with his lawless and punitive tariffs, have caused consumers to pay more for less and less. However, the out of touch MF has indicated on numerous occasions that the rise in product costs (gas prices are "peanuts") are nothing to be concerned about, since he doesn't think about American's financial situation as he plows ahead with his regime change war on Iran. His cult may eventually see things differently.
UPDATE: And the demented Malignant Fascist? He LOVES inflation:
President Donald Trump insisted he loves inflation caused by his war in Iran and claimed he tanked the stock market on purpose.
The 79-year-old president spoke to reporters Wednesday in the Oval Office, where he was asked about year-over-year inflation hitting a three-year high of 4.2 percent last month as his war pushed energy prices higher, and he claimed that was part of his broader strategy for launching the attack in the first place.
"No, I love it – the numbers were great," Trump said. "You know what I really love? I love the inflation. You know why? Because as soon as this war is over, you know, I can say it now, something you didn't know. You know, we've been taking out millions of barrels of oil, nobody knows it. You know who doesn't know about it? Iran, until right now we took out the other night 22 ships late at night with no lights because they don't have any radar because we blasted the crap out of it. We took out, that's why oil is $85 a barrel."
A soundbite for every Democratic candidate's ads from now until November.
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