INESCAPABLE INFLATION – 6/20/22

CPI inflation rose a whopping 1% in May and is up 8.6% Y-o-Y, it’s fastest pace since 12/81! Worse, inflation is increasingly broad-based. Y-o-Y, groceries are up 11.9%, their fastest rise since 1979. Services, 45% of GDP, are rising at 5.7% Y-o-Y, their fastest pace since 3/91 and have risen steadily since 8/21. The Fed will probably raise rates faster given this report. A soft-landing looks increasingly elusive.  (Source: Dr. Elliot Eisenberg, the Bowtie Economist).

*The views, articles, postings and other information listed on this website are personal and do not necessarily represent the opinion or the position of American Pacific Mortgage Corporation.

Leave a Comment