Prices soared 5% on a yearly basis in May by theothersarahh
As prices continue to climb amid fears that government stimulus spending and a booming recovery may cause the economy to overheat,
The Labor Department said prices for used cars and trucks rose 7.3% last month, which accounts for roughly one-third of the price increases overall. Core inflation, which excludes volatile price changes in the food and energy categories, rose 3.8% over the last year—that’s its highest annual increase since 1992.come as demand surges back to life as restrictions on businesses are lifted and the economy reopens, and many consumers now have cash to burn in large part thanks to government stimulus assistance and the excess savings they accumulated over the past year.
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