Key inflation indicator up 3.5% year over year in June for fastest gain since 1991

CNBC/Jeff Cox

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.

line chart showing the strong increase in the PCE index

Sources: St. Louis Federal Reserve, U.S. Bureau of Economic Analysis

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