{"id":559037,"date":"2021-06-10T09:06:44","date_gmt":"2021-06-10T13:06:44","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=559037"},"modified":"2021-06-10T09:06:46","modified_gmt":"2021-06-10T13:06:46","slug":"breaking-monthly-inflation-again-passes-economists-expectations-highest-annual-rate-in-more-than-12-years","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/breaking-monthly-inflation-again-passes-economists-expectations-highest-annual-rate-in-more-than-12-years\/","title":{"rendered":"BREAKING: Monthly Inflation AGAIN Passes Economists\u2019 Expectations, Highest Annual Rate In More Than 12 Years"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbreaking-monthly-inflation-again-passes-economists-expectations-highest-annual-rate-in-more-than-12-years%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=559037&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/Joe-Biden-4.jpg?w=1200&#038;h=800&#038;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\"  style=\"display:none\"><\/div>\n<p>The Consumer Price Index (CPI), a measure of U.S. economic inflation, continued climbing quickly in May, surpassing economists\u2019 expectations for another month.<\/p>\n<p>CPI rose 0.6% in May, according to Department of Labor <a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\">data<\/a> released Thursday, bringing the annual CPI increase to 5%, well over the 4.7% predicted by economists interviewed by <a href=\"https:\/\/www.wsj.com\/articles\/us-inflation-consumer-price-index-may-2021-11623288303\">The Wall Street Journal<\/a>. Core CPI, a measure of consumer good prices minus the more volatile indexes for food and energy, rose 0.7% in May after a 0.9% jump in April.<\/p>\n<p>The jump in overall CPI is \u201cthe largest 12-month increase since a 5.4-percent increase for the period ending August 2008,\u201d the Department of Labor reported. The index for core CPI \u201crose 3.8 percent over the last 12-months, the largest 12-month increase since the period ending June 1992.\u201d<\/p>\n<p>Experts are still unsure of when inflation may slow. Inflation rates are <a href=\"https:\/\/www.wsj.com\/articles\/us-inflation-consumer-price-index-may-2021-11623288303\">expected<\/a> to stay high throughout the summer as demand returns after taking a long hiatus during the pandemic. Prices are also rising again after diving at the onset of the pandemic and widespread lockdowns last year. The return to normal pricing levels after the artificial drop is known as the base effect, and experts are still unsure of how much inflation is driven by the effect and how much is due to economic malaise driven by government policies.<\/p>\n<p>Multi-trillion dollar aid packages as well as trillions of dollars more in loans from the Federal Reserve are expected to push prices high, however, as that money works its way into the U.S. economy, drastically expanding the money supply.<\/p>\n<p>April\u2019s CPI report showed that inflation had had the largest annual rise since fall of 2008 after the beginning of the Great Recession. The inflation data was driven by jumps in the prices of used vehicles as transportation picked up after months of COVID restrictions lifted. The data was still much higher than what economists expected for the month of April. As <a href=\"https:\/\/www.dailywire.com\/news\/bidens-economy-inflation-hits-highest-levels-since-great-recession-soars-past-economists-expectations\">The Daily Wire<\/a> reported:<\/p>\n<blockquote readability=\"17\">\n<p><em>The 12-month inflation rate soared past the expectations of economists, who expected inflation to fall around 3.6% and 0.6% lower than the actual 4.2% inflationary spike.<\/em><\/p>\n<p><em>The index for all items less food and energy measures the increase in cost of what economists refer to as a \u201ctypical\u201d basket of consumer goods, minus any food or fuel products because those prices tend to fluctuate day-to-day. The index for all items less food and energy, known by economists as \u201ccore CPI\u201d because of its relative stability, jumped 0.9% in April, its largest one-month hike since April 1982, according to BLS data.<\/em><\/p>\n<\/blockquote>\n<p>The new inflation data follows last week\u2019s Department of Labor report showing May was another slow month for job growth, missing economists\u2019 expectations by more than 100,000 jobs. As <a href=\"https:\/\/www.dailywire.com\/news\/breaking-u-s-recovery-falls-short-again-in-may-misses-expectations-by-more-than-100000-jobs\">The Daily Wire<\/a> reported:<\/p>\n<blockquote readability=\"20.346774193548\">\n<p><em>The U.S. economy added 559,000 jobs last month while the unemployment rate fell from 6.1% to 5.8%.<\/em><\/p>\n<p><em>The\u00a0<a href=\"https:\/\/www.bls.gov\/news.release\/empsit.nr0.htm\">data<\/a>, put out by the Department of Labor on Friday morning, fell short of economists\u2019 expectations of job growth but passed expectations for the unemployment rate after April\u2019s disastrous jobs report signaled critical issues in the United States\u2019 recovery. Economists moderated their expectations from April to May, predicting 671,000 jobs added and an unemployment rate of 5.9%, according to\u00a0<a href=\"https:\/\/www.wsj.com\/articles\/may-jobs-report-unemployment-rate-2021-11622764467\">The Wall Street Journal<\/a>.<\/em><\/p>\n<p><em>Experts were closely watching the May jobs report to see if the economy rebounded from April\u2019s disastrous numbers when jobs added fell far short of the nearly 1 million expected and the unemployment rate ticked up to 6.1%. The May report would either confirm or alleviate fears that the April report signaled problems in the U.S. recovery.<\/em><\/p>\n<\/blockquote>\n<p><em>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/em><a href=\"https:\/\/www.dailywire.com\/subscribe\"><em>member<\/em><\/a><em>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Consumer Price Index (CPI), a measure of U.S. economic inflation, continued climbing quickly in May, surpassing economists\u2019 expectations for another month.CPI rose 0.6% in May, according to Department of &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2279851,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/Joe-Biden-4.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"BREAKING: Monthly Inflation AGAIN Passes Economists\u2019 Expectations, Highest Annual Rate In More Than 12 Years","footnotes":""},"categories":[],"tags":[],"class_list":["post-559037","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/Joe-Biden-4.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"BREAKING: Monthly Inflation AGAIN Passes Economists\u2019 Expectations, Highest Annual Rate In More Than 12 Years","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/559037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=559037"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/559037\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2279851"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=559037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=559037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=559037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}