Should be able to see them here: https://www.bls.gov/news.release/cpi.nr0.htm
We'll see how hard they're going to push the "wages have to come down right now" thing.
CPI Rises 1% for May (seasonally adjusted)
It was 0.3% in April and people were claiming inflation was flattening.
interest rate hikes won't bring inflation under control - inflation is being driven by supply shortages that are driving up the costs for businesses to produce goods. that is, the rate of profit is collapsing so prices must go up in an attempt to compensate. it's going to keep going up until they find a way to valorize all the available capital - but with the death of so many around the world to covid and the aging out of the largest demographic in history, they're going to find that they have only one real way to do so: destroy some portion of fixed capital, whether via wars or some other means.
some good reading from Michael Roberts, a Marxian economist on this subject:
- https://thenextrecession.wordpress.com/2022/04/18/the-inflation-debate/
- https://thenextrecession.wordpress.com/2020/08/21/a-marxist-theory-of-inflation/
This should be a surprise to nobody because the price of gas is increasing.
