Inflation Summary: Annual Inflation up sharply to ~5% (actually 4.99%) CPI Index rose from 267.054 in April to 269.195 in May. Monthly Inflation for April was 0.82% and 0.80% in May. We have to go back to the Oil Peak of 2008 to see higher inflation. Next release July 13th Annual inflation for the 12 months ending in May was 4.99% Since February, we have been predicting Annual Inflation would shoot up in March and April due to negative numbers falling out of the annual calculation. Although May 2020 was not negative it was virtually zero so replacing it with a massive 0.80% monthly inflation caused the Annual inflation rate to soar once more. Since the BLS rounds … [Read more...]