{"id":590234,"date":"2021-07-13T16:21:24","date_gmt":"2021-07-13T20:21:24","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=590234"},"modified":"2021-07-13T16:21:27","modified_gmt":"2021-07-13T20:21:27","slug":"inflation-rises-again-hits-5-4","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-rises-again-hits-5-4\/","title":{"rendered":"Inflation Rises Again, Hits 5.4%"},"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\">10<\/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%2Finflation-rises-again-hits-5-4%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=590234&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\/07\/GettyImages-90111818-e1616876938761.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>Inflation rose in the United States by 5.4% since last year.&nbsp;<\/span><\/p>\n<p><span>New data from the Department of Labor reveals that the Consumer Price Index rose by 0.9% since May in the most drastic one-month increase since 2008. Core inflation \u2014 which factors out food and energy costs \u2014 has risen year-over-year by 4.5%.<\/span><\/p>\n<p><span>Economists surveyed by Dow Jones predicted a 5% increase in CPI, marking another recent instance of inflation data significantly exceeding predictions.<\/span><\/p>\n<p><a href=\"https:\/\/www.wsj.com\/articles\/us-inflation-consumer-price-index-june-2021-11626125947?mod=hp_lead_pos1\"><span>The Wall Street Journal<\/span><\/a><span> reports:<\/span><\/p>\n<blockquote readability=\"16\">\n<p><i><span>Consumers are seeing prices rise for numerous reasons, as the U.S. economic recovery picks up. Richard F. Moody, chief economist at Regions Financial Corp., said the main driver of June inflation was booming demand that outpaced the ability of businesses to keep up. Another factor, he said, was the recovery in prices for air travel, hotels, rental cars, entertainment and recreation \u2014 all services hit hard by the Covid-19 pandemic.<\/span><\/i><\/p>\n<\/blockquote>\n<p><span>\u201cWhat this really shows is inflation pressures remain more acute than appreciated and are going to be with us for a longer period,\u201d Wells Fargo economist Sarah House told <\/span><a href=\"https:\/\/www.cnbc.com\/2021\/07\/13\/consumer-price-index-increases-5point4percent-in-june-vs-5percent-estimate.html\"><span>CNBC<\/span><\/a><span>. \u201cWe are seeing areas where there\u2019s going to be ongoing inflation pressure even after we get past some of those acute price hikes in a handful of sectors.\u201d<\/span><\/p>\n<p><a href=\"https:\/\/www.dailywire.com\/news\/heres-how-inflation-hurts-americans-pocketbooks\"><span>Inflation<\/span><\/a><span> refers to the eroding purchasing power of a given currency over time. As the Federal Reserve has pursued an aggressive monetary policy, the supply of the dollar in the United States economy has drastically expanded.<\/span><\/p>\n<p><span>The United States economy has observed accelerating inflation for the past several months. The year-over-year increase in the Consumer Price Index <\/span><a href=\"https:\/\/www.dailywire.com\/news\/breaking-monthly-inflation-again-passes-economists-expectations-highest-annual-rate-in-more-than-12-years\"><span>climbed<\/span><\/a><span> to 5% \u2014 which, according to the Department of Labor, marked \u201cthe largest 12-month increase since a 5.4-percent increase for the period ending August 2008.\u201d The agency\u2019s June report, therefore, matches the former record.<\/span><\/p>\n<p><span>Consumers are noticing inflation\u2019s effects upon their pocketbooks. For instance, a recent <\/span><a href=\"https:\/\/www.dailywire.com\/news\/thanks-to-inflation-back-to-school-prices-expected-to-skyrocket\"><span>survey<\/span><\/a><span> shows that consumers forecast a 9% year-over-year increase in their back-to-school spending. Last year, they anticipated spending $247; this year, they anticipate spending $268.<\/span><\/p>\n<p><span>Costs are also climbing for businesses. Producer prices <\/span><a href=\"https:\/\/www.dailywire.com\/news\/american-businesses-see-largest-producer-price-surge-since-tracking-began\"><span>rose<\/span><\/a><span> by 0.8% in May \u2014 a rate that significantly exceeded forecasts of 0.5%. In January, February, March, and April, the year-over-year increases in the Producer Price Index were 1.6%, 2.8%, 4.2%, and 6.2%, respectively.&nbsp;<\/span><\/p>\n<p><i><span>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 <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inflation rose in the United States by 5.4% since last year.\u00a0New data from the Department of Labor reveals that the Consumer Price Index rose by 0.9% since May in the &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2314610,"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\/07\/GettyImages-90111818-e1616876938761.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"Inflation Rises Again, Hits 5.4%","footnotes":""},"categories":[],"tags":[],"class_list":["post-590234","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/GettyImages-90111818-e1616876938761.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"Inflation Rises Again, Hits 5.4%","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/590234","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=590234"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/590234\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2314610"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=590234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=590234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=590234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}