New Federal Data Signals More Trouble for U.S. Economy
May 13, 2021 | District of Columbia
New data from the Bureau of Labor Statistics (BLS) reports that prices for consumer goods have risen significantly in the past year, putting extra strain on Americans’ budgets and worrying experts.
As the Biden administration fends off criticism over proposed tax increases, higher spending and rising inflation, BLS released data Wednesday showing the biggest increase in consumer prices in over a decade. Those price increases point to a spike in inflation, experts say.
“Over the last 12 months, the all items index increased 4.2 percent before seasonal adjustment,” BLS said in a statement. “This is the largest 12-month increase since a 4.9-percent increase for the period ending September 2008.”
Part of the reason for that increase was from a spike in the cost of used vehicles…
(Excerpts from the Tennessee Star)
