The Inflation Story the Media Will Miss: Energy Drove 60 Percent of May's Increase!
From the article:
"Outside of energy, the report told a different story. Core prices, which strip out food and energy, rose 0.2 percent in May and 2.9 percent from a year ago, coming in below the 0.3 percent monthly forecast. Core commodities prices declined 0.1 percent during the month. Chris Rupkey, chief economist at Fwdbonds, agreed:
"The inflation risks for core consumer goods are in retreat for now."
Food prices rose 0.2 percent in May and were up 3.1 percent year-over-year, with groceries up 0.1 percent and restaurant prices up 0.3 percent."
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