Soaring Gas Prices Fuel June Inflation

It is hard to feel good about this report, but with wage growth slowing sharply in the last six months to around 4.0 percent (compared to 3.4 percent in 2019), it’s hard to see how an inflation rate north of 9.0 percent can be sustained. The overall CPI was up 1.3 percent in June, core rose 0.7 percent; 9.1 percent and 5.9 percent year-over-year, respectively.  More

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