Prices jumped 5 percent in May, continuing inflationary climb. Policymakers say it’s temporary.

Posted on AllSides June 10th, 2021
From The Left
Economy and Jobs, inflation rate

The most recent inflation figures are unlikely to rattle the Biden administration or Federal Reserve.

Prices rose by 5 percent in May compared with a year ago, the largest increase since the Great Recession, continuing a steady climb in inflation even as policymakers insist on staying the course.

Price spikes often coincide with downturns, and officials from the White House and Federal Reserve have predicted that prices will climb over the coming months, especially compared to a year ago, when the economy was reeling from coronavirus pandemic shutdown. However, the move adds...

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