Inflation Up Again in May. The Worst Is Yet to Come.

There are more than just supply chain disruptions causing prices to rise at a 6.5% annual rate since January.

The Commerce Department recently reported that the consumer price index (CPI) increased by .6% in May. That means prices have risen 5% since last May 2020. This far exceeds the Biden administration and the Federal Reserve’s target of 2%. While they say the inflation…