Inflation is still surging, CPI will likely show. Any relief for consumers in sight? The good news is that inflation is all but certain to subside soon. The big question is how much. Will Americans actually get relief from surging costs of all sorts of goods and services, ranging from gas and lumber to used cars and vacation rentals?
Let’s try to unpack the problem.
The consumer price index, the government’s main tool for tracking inflation, is expected to rise by an outsized 0.5% in May. The report comes out Thursday morning.
If the Wall Street forecast is on the mark, inflation over the last 12 months would climb to 4.8% or a bit higher. That would put the inflation rate at its highest level since 2008, when the price of oil CL00, -0.29% peaked at $150 a barrel.
Another closely followed measure in the CPI report that strips out volatile food and energy costs, meanwhile, could accelerate to a 3.5% yearly pace. That would be the biggest increase in 28 years.............
https://www.marketwatch.com/story/inflation-is-still-surging-cpi-data-will-likely-show-is-there-any-relief-for-consumers-in-sight-11623258245
