Here’s the good news – the COVID economic recovery is booming. First-quarter U.S. gross domestic product (GDP) growth came in at 6.4%, putting the U.S. economy on pace for its best year of growth since 1984.
The bad news? Inflation is soaring. In fact, it just hit a 13-year high. Here are some more details from Reuters.
In the 12 months through June, the CPI jumped 5.4%. That was the largest gain since August 2008 and followed a 5.0% increase in May. Excluding the volatile food and energy components, the CPI accelerated 0.9% after increasing 0.7% in May. The so-called core CPI surged 4.5% on a year-on-year basis, the largest rise since November 1991, after advancing 3.8% in May.
Not only is higher inflation a threat to consumers, but it’s also a threat to the stock market. Continue reading “Worried About Inflation? Try this Cannabis Stock”
