Key inflation indicator up 3.5% year over year in June for fastest gain since 1991
Repost from 8-2-2021
“An inflation indicator that the Federal Reserve uses as its key guide rose 3.5% in June, a sharp acceleration that was nonetheless right around Wall Street expectations, the Commerce Department reported Friday.”
USAGOLD note: The PCE Index including food and energy was up 3.9%. With the typical one-year certificate of deposit drawing 0.6% (at best), the dive into negative real rates of return is accelerating quickly.
Sources: St. Louis Federal Reserve, U.S. Bureau of Economic Analysis