Harsh Reality


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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!!!

Larry
 

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