The inflation report for April brought no good news. The year-over-year inflation rate was 8.3%. The monthly "core" inflation, stripping away volatile food and energy prices, was 0.6%, which comes to 7.4% at a compounded annual rate.
Author: Jeffrey Sachs, CNN
U.S. Can Fight Inflation and Still ‘Build Back Better’
Many factors resulting from the Covid-19 crisis have produced the sharp rise in prices, but economist Jeffrey Sachs writes that inflation shouldn’t derail the long-term investments in America’s future contained in President Joe Biden’s social spending…