Inflation is Still Alarmingly High As High Prices Continue to Pummel Americans

Inflation is Still Alarmingly High As High Prices Continue to Pummel Americans


On May 15, 2024, the Bureau of Labor Statistics (BLS) published statistics indicating that the measure of the prices of everyday goods grew by 3.4% on a yearly basis in April. 

As far as Core CPI is concerned, which leaves out energy and food, was higher. It increased 3.6% year-over-year in April. 

Inflation technically peaked at 9% under President Joe Biden in June 2022. Thus far, inflation has not dipped below 3%, per official figures., 

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The Federal Reserve pegged the federal funds rate to a range of 5.25% and 5.50% in an effort to stem inflation. This is the highest interest level in 23 years.

Gross domestic product growth has been sluggish in the first quarter of 2024, hovering at only 1.6%. In light

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