US consumer price index sprints to a record gain in 13 years as consumption patterns continue to dwindle. The Covid-19 pandemic has affected economies around the world, including the US. But the US Consumer Price Index went up by five percent in the 12 months twelve-month period through to May 2021.
Remarkably, this was the fastest annual CPI rate since August 2008. However, this took place before the subprime financial crisis.
According to the US labor figures, in that 12 month period, all items indexed increased 5.0 percent before seasonal adjustment. As a result, it was described as the largest 12-month increase since a 5.4% hike in the same period ending August 2008.
Current trends in CPI
Since the beginning of the year 2021, the CPI rate has shown steady growth. But as ...
