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Inflation & Gas Prices Higher AGAIN

Last Friday, the Consumer Price Index knowledge for May was launched, and it confirmed that year-over-year inflation has ticked as much as 8.6%. It was predicted by economists forward of the discharge of the quantity that that quantity would drop to eight.2%, barely down from April’s 8.3%, so this was a reasonably important miss. At the identical time, fuel costs proceed to soar, with the AAA nationwide common for a gallon of gasoline now as much as $5. These indicators have induced sell-offs within the inventory market over fears of continued rate of interest hikes, and the S&P 500 is now formally within the bear market territory, down about 22% from its highs. Unfortunately, administrations have little management over inflation and the value of fuel, but voters are prone to maintain Democrats accountable for these poor financial metrics in November’s midterms.

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AAA nationwide common
Consumer Price Index
financial metrics
market territory
S&P 500

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