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IPFS News Link • Inflation

Monthly US Inflation at 12% Annualized and 8.6% Over Last 12 Months

•, by Brian Wang

Over the last 12 months, the all items index increased 8.6 percent before seasonal adjustment.

The increase was broad-based, with the indexes for shelter, gasoline, and food being the largest contributors. After declining in April, the energy index rose 3.9 percent over the month with the gasoline index rising 4.1 percent and the other major component indexes also increasing. The food index rose 1.2 percent in May as the food at home index increased 1.4 percent.

The US will have half point interest rate increases at its next couple of Federal Reserve Meetings.