3 Ways Rising Price Inflation Hurts Everyday Americans

Proponents of big-government spending and money-printing tried to downplay April data showing surging consumer prices as just a temporary adjustment. But the new data for May are out now, and they show price inflation shooting up even higher.

According to Bureau of Labor Statistics figures released Thursday, consumer prices rose a whopping 5 percent from May 2020 to May 2021—the highest rate recorded in 13 years. (And this is using a measure that often underestimates actual price increases). Some particular goods experienced acute price increases, such as used cars and trucks, which rose 7.3 percent over the year. Food and transportation prices saw sizable increases as well. 

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