Inflation remained painfully high in May, with consumer prices hitting a new four-decade high that exacerbated a financial strain for millions of Americans and worsened a political crisis for President Biden.
The Labor Department said Friday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 8.6% in May from a year ago. Prices jumped 1% in the one-month period from April. Those figures were both higher than the 8.3% headline figure and 0.7% monthly gain forecast by Refinitiv economists.
Read full article: https://www.foxbusiness.com/economy/inflation-hits-fresh-high-may-consumer-prices-surging
The US CPI inflation rose 8.6% in May from a year ago, the highest increase since December 1981, beating the 8.3% Dow Jones estimate. The S&P 500 (SPX) has reacted by falling 1.94% lower so far today, how much further do you think SPX will fall by the end of today?
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