Inflation And Complacency

The Labor Department has released a report that US Inflation was at its worst since 2008, and it is rising. Pay attention, don’t be complacent for what may be coming. Use it as fuel to be proactive in all areas of your life.

From a Wall Street Journal article on the report:

“The Labor Department said May’s increase in consumer inflation was the largest since August 2008. The jump followed a 4.2% rise for the year ended in April. The core-price index, which excludes the often-volatile categories of food and energy, rose 3.8% in May from a year before—the largest increase for that reading since June 1992.

Prices for used cars and trucks leapt 7.3% from the previous month, driving one-third of the rise in the overall index. The indexes for furniture, airline fares and apparel also rose sharply in May”

Food makers said their costs are climbing at an alarming rate, prompting them to raise some prices. “The inflation pressure we’re seeing is significant,” General Mills Inc. Chief Executive Jeff Harmening said at a recent investor conference. “It’s probably higher than we’ve seen in the last decade.”