May 11, 2022
NOW RAISE GAS TAXES $2 A GALLON AND INCREASE AS NEEDED TO MAINTAIN THAT LEVEL:
New inflation data is out--here's what it says about the state of the U.S. economy (Mike Winters, 5/11/22, CNBC)
At last, consumers are starting to see some relief: The rate of inflation for consumer prices declined in April, according to highly-anticipated Labor Department data published Wednesday. [...]The slowdown is partially driven by energy prices, which declined 2.7% in April after rising 11% percent in March. Gasoline prices fell 6.1%, as did used vehicles and clothing, which dropped 0.4% and 0.8%, respectively.Falling prices on these products is good news for consumers -- especially for gas prices, which have nearly doubled in the last year. The CPI numbers suggest that despite recent gas price surges, there are limits to how quickly those prices can grow.
Posted by Orrin Judd at May 11, 2022 1:52 PM