The consumer price index for March was expected to increase 8.4% from a year ago, according to Dow Jones estimates.
Still, due to the surge in inflation, real earnings, despite rising 5.6% from a year ago, still weren’t keeping pace with the cost of living. Real average hourly earnings posted a seasonally adjusted 0.8% decline for the month, according to a separate Bureau of Labor Statistics report.
I bought a 4lb flat of 85/15 hamburger at WM today for a get together tomorrow (Not enough time to properly thaw some of our cow we bought). It was $24.xx. I hadn’t been to the grocery myself in a good bit, I was floored.
Ugh. Misleading title though.
It's not up 8.6% in may, meaning the amount of inflation rose that much.
It's that as of may, the annual inflation average rose TO 8.6%. words matter. Which is much more than an 8.6% increase from April.