(CNSNews.com) – It comes as no surprise, given the daily increase in gasoline prices, that inflation took another leap last month.
The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.0 percent in May on a seasonally adjusted basis after rising 0.3 percent in April and 1.2 percent in March, the U.S. Bureau of Labor Statistics reported today.
Over the last 12 months, the all items index increased 8.6 percent before seasonal adjustment, compared with 8.3 percent in April and 8.5 percent in March. That 8.6 percent increase is the largest since December 1981.
BLS said the increase was broad-based, with the indexes for shelter, gasoline and food — the basic essentials of our lives — being the largest contributors.
After declining in April, the energy index rose 3.9 percent in May, with the gasoline index rising 4.1 percent in May alone. Compared with a year ago, gasoline prices are up 48.7 percent. Fuel oil was up a whopping 106.7 year-to-year, not seasonally adjusted.
Everything has gone up including wages for new hires but the people who have continued to work through this fiasco the last few years continue to work for the wages with little to no raises. It’s terrible that a person working a convenience store, a fast food or a box store can start off making more than an employee who has been employed for years. But then again, the stimulus/unemployment money was a bonus to encourage people not to work.
Maybe you would like to troll over to the SS increase article and insult all the retiree’s, informing us on how lazy they are and how they did not work hard enough to get an increase on their money paid for retirement.
Per Joe Biden…. you right wingers are lying