The consumer price index (CPI) rose 0.6 percent in May, with the core index (which excludes food and energy) rising at an even more rapid 0.7 percent. This brought the increases in the overall and core index over the last year to 5.0 and 3.8 percent, respectively. Does this mean the inflation hawks were right? More
This content originally appeared on CounterPunch.org and was authored by Dean Baker.