Inflation in May Rose to , Its Highest Rate Since 1981.<br />The Bureau of Labor Statistics released <br />its May report on June 10.<br />The agency found that inflation continued to rise in May, up 8.6 percent from this time a year ago.<br />The consumer price index rose more than <br />the 8.3 percent analysts had predicted. .<br />It is the fastest increase of inflation <br />in the U.S. since December of 1981.<br />According to CNBC, steep increases in gas, food and shelter prices all played a significant role.<br />According to CNBC, steep increases in gas, food and shelter prices all played a significant role.<br />According to CNBC, steep increases in gas, food and shelter prices all played a significant role.<br />Food prices are up 10.1 percent <br />since the beginning of the year.<br />On account of inflation, real wages dipped <br />in April by 0.6 percent.<br />This was despite hourly wages rising by <br />0.3 percent during the same period.<br />The industries with the steepest price increases include air travel, used cars and trucks and dairy.<br />The industries with the steepest price increases include air travel, used cars and trucks and dairy.<br />The industries with the steepest price increases include air travel, used cars and trucks and dairy.<br />Obviously, nothing is good in <br />this report, Julian Brigden, MI2 Partners President, via CNBC.<br />There is nothing in there that’s going to give the Fed any cheer, Julian Brigden, MI2 Partners President, via CNBC.<br />I struggle to see how the Fed can back off, Julian Brigden, MI2 Partners President, via CNBC.<br />Fears of economic recession continue to mount following the release of the data.<br />Officials with the Biden administration cite <br />supply chain issues, increased demand despite rising costs and the war in Ukraine.<br />The Federal reserve is expected to <br />raise interest rates again soon
