The rate of inflation in the United States in May for the first time since 2008 was 5%

Compared with April, the consumer price index in May was at the level of 0.6%, noted the Bureau of Labor Statistics at the US Department of Labor.

Prices of basic consumer goods and services in the United States rose 5% in May compared to the same period last year, the largest increase for the country since August 2008. This is evidenced by the Bureau of Labor Statistics data at the US Department of Labor, published on its website on Thursday.

Compared to April of this year, the consumer price index in May was 0.6%. According to the portal Axios, the published data slightly exceeded expectations; experts assumed that the index compared to the previous month will be 0.4%, with May 2020-4.7%. This information can also spur a further increase in the value of the consumer basket. In August 2008, the consumer price index was 5.3%.

NBC adds that food prices in the United States have increased since the beginning of the pandemic and have never returned to the level recorded before the pandemic. But energy prices raised the most – by 28.5% compared to May 2020, with gasoline rising by 56.2%. In early May, attackers from the DarkSide group hacked into the systems of the American pipeline company Colonial Pipeline, which led to a shortage of fuel on the East coast of the United States

On Wednesday, White House officials assured that the current rate of inflation is temporary.

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Author: Steve Cowan
Graduated From Princeton University. He has been at the Free Press since October 2014. Previously worked as a regional entertainment editor.
Function: Chief-Editor

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