This Red-Hot Inflation Reading Just Hit Its Highest Level Since November 2022. 3 Takeaways for Investors.
It's become too much of a risk to simply ignore now.
This Red-Hot Inflation Reading Just Hit Its Highest Level Since November 2022. 3 Takeaways for Investors.
Overview
If there was any lingering hope that April's inflation surge was a one-off event, it was just wiped away. The Bureau of Labor Statistics recently reported that May's consumer inflation rate rose from 3.8% to a three-year high of 4.2%, led by soaring food and fuel prices. Even taking those two categories out of the equation, though, the nation's so-called "core" annualized consumer inflation rate still rose from April's 2.8% to 2.9% last month.
Industry and middlemen aren't faring any better either. The BLS went on to report last month's producer inflation rate reached 6.5% -- the highest level since November of 2022 -- while its core inflation figure grew from April's pace of 4.4% to 5.1% in May.
Details
This is something investors can no longer ignore.
Source
Originally published at www.fool.com.
