Thanks to Gasoline, Inflation Hits 2.8% in June

While we’re on the subject of inflation, here is today’s update of the Consumer Price Index for June:

The CPI is up 2.8 percent over the past year while core CPI (excluding food and energy) is up 2.2 percent. It’s starting to look like there’s finally some inflationary pressure building, though it’s hard to tell yet whether it will continue. Gasoline is up 24 percent over the past 12 months, and that might moderate or even decline if OPEC follows through on its promise to increase production in order to make up for the Iran embargo. Wait and see.

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And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

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