Harsh Reality

Jun 14, 2022
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United States
Friday's economic report does not bode well for farmers or the rest of us!!

U.S. consumer prices accelerated in May at the fastest rate in 40 years, as we grapple with a surge in the cost of supplies, fuel, equipment, food, and shelter, data showed Friday, June 10th!!!

The Bureau of Labor Statistics' May Consumer Price Index (CPI) showed a year-over-year increase of 8.6% last month, up from 8.3% in April. Economists were expecting an 8.3% increase in May, according to estimates compiled by Bloomberg.

On a month-over-month basis, the broadest measure of inflation climbed 1.0%, compared to 0.3% in April. "Core" inflation, which strips out the more volatile costs of food and gas, rose 6% over the prior year in May, more than the 5.9% that was expected!!!

No US business owner needs me to tell them this! It's pretty obvious when you shop for anything, if you can even find it!!!





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