Inflation Fears Mount As Economic Rebound Gathers Steam.

Prices are rising the fastest they have in a decade which is causing some alarm among economist. (CBS News)

inflation arrow point up from earth
Consumer prices rose 0.6% in May, and 5% over the last 12 months, the Labor Department said on Thursday. It’s the fastest rate of increase since August 2008, reflecting growing demand as consumers shop, travel and dine out in a reopening economy.

Prices for used cars and trucks drove the increase, growing 29% over the last year, while energy prices grew 28.5% in the last 12 months. Transportation services increased 11.2% in the last 12 months.
— CBS News.com

America is back and that means goods and services are being heavily utilized which is leading to rising prices. The economic rebound is going to cause some inflation for the near term which is not welcome economic news for the Biden Administration but it certainly is superior to the economic disaster the nation faces 14 months ago. All the the news on the economic front can’t be glowing and the good far outweighs the bad in this this rising tide economy. There will be winers and losers in every economic cycle.

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