What’s Causing US Inflation?

Hint: It’s Probably Not What You’re Thinking…

The US Labor Department reported recently that consumer prices climbed 8.6% year-over-year through May, the highest in 4 decades. As a result, Americans are confronting higher prices for everything and are grasping for answers about what is causing it, how long it might last and what can be done to resolve it.

No one knows for sure how long high inflation will remain, but what caused it is a simpler discussion. The economic cause for inflation is too much money chasing too few goods. Here are several examples of the inflation impact based on year-over-year comparisons from data published monthly by the US Department of Labor and reported by their Bureau of Labor Statistics (BLS).

Biden Alert: For his fans, it’s tribal retreat time. But for those with open minds, please read on. I’m not blaming him…