CNBC - Consumer prices jump 5% in May, fastest pace since the summer of 2008 - Jeff Cox
> Headline consumer prices rose 5% year over year in May, the fastest pace since August 2008 and higher than Wall Street
expectations.
> The 3.8% rise in the core inflation rate, which excludes food and energy prices, was the sharpest increase in nearly three
decades.
> Surging used car car prices helped drive much of the inflation gains.
Initial jobless claims totaled 376,000, a touch higher than the estimate
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YTD through April, 2021, the CPI (Consumer Price Index) was 4.2%. With May coming in at 5%, January through May we will move closer to 5% CPI YTD.
We are only five months into the year, if we assume a 1% inflation rate additional each month, we will be at 12% inflation by year end. That is using the 2018 CPI formula. Using the 1980 CPI formula, more like 30%.
During the later years of the Weimar Republic, German citizens where buying any commodity to try to fight against hyper inflation. Pianos, gold, diamonds, radio's, cars, etc. Now is the time to take those extra dollars and buy commodities that you have been putting off. Alaskan Mill, solar system, silver, tractor, others...
Just some food for thought.
