Sonic Inflation – Sonic Inflation Economy – Sonic Inflation Money

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Sonic Inflation Economy

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Sonic Inflation Money

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Sonic Inflation

sonic inflation analyst: In May, inflation unexpectedly reached a fresh 40-year high as gas, food, and rent costs soared, implying that the planned decrease will be excruciatingly slow.

The consumer price index jumped 8.6% year over year, the highest increase since December 1981, according to the Labor Department. Inflation was expected to stay at 8.3 percent, according to economists.

Economists assumed inflation had began a grindingly slow drop after it eased off its recent four-decade peak in April. As a broad range of commodities and services rose dramatically, May’s return to historic levels demonstrates just how intractable inflation has become.

In a note to clients, Gregory Daco, chief economist at EY-Parthenon, stated, “The inflation reduction through year-end will be anything but steep.”

Over the last year, gas costs have risen by 4.1 percent and 48.7 percent, respectively, while grocery prices have risen by 1.4 percent and 11.9 percent. Russia’s intervention in Ukraine has hampered global oil, wheat, corn, and other commodity shipments, extending supply chain problems.

Cakes, cupcakes, and cookies saw a 3.1 percent increase in price last month, while fish saw a 2.2 percent increase. Following a 10.3 percent spike in April, egg prices grew 5%, while chicken prices increased 3% for the second month in a row, as both commodities rose at least partly due to a recent bird flu outbreak.

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