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IPFS News Link • Inflation

Core Consumer Prices Surge At Fastest Rate Since 1992

• https://www.zerohedge.com, by Tyler Durden

With the world's eyes having moved on from China's rip-roaring PPI (and post-data decision to unleash price controls), this morning's CPI print has been heralded as the arbiter of "is it transitory or not" with some (BofA) even suggesting we are nearing a period of "transitory hyperinflation." The answer for now is - inflation's still accelerating as headline CPI soared 5.0% YoY (hotter than the +4.7% expected). That is the highest level of inflatuion since Aug 2008.

But it is core CPI that is the huge outlier, soaring 3.8% YoY - the hottest level of inflation since 1992...

Goods prices are up 6.5% YoY - the highest since 1982 - and services prices are also accelerating significantly.

Under the hood, many of the same indexes continued to increase,  including used cars and trucks, household furnishings and operations, new vehicles, airline fares, and apparel. The index for medical care fell slightly, one of the few major component indexes to decline in May


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