Inflation has come to dominate dinner table discussions as the price of food, energy, housing and almost everything else Americans deal with on a daily basis vault higher. In May, it climbed to its highest level since 1981, rising 8.6% from a year earlier as measured by the Consumer Price Index. There is concern now that we may see a repeat of the 1970s, when the inflation rate averaged 7.1% for a whole decade, devastating household finances and the economy.
This is a major shock to a whole generation of consumers who had become accustomed to little or no inflation. Bloomberg Economics estimates that US households will have to spend an extra $5,200 this year, or about $433 a month, for the same consumption basket.
BE SURE TO THANK SENILE BIDEN AND EVERY LIBTARD YOU KNOW - Look at all the price jumps once they became in charge
