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Inflation May Soon Ease, but Not Enough
Keywords: Inflation 2022, Price Increases 2022,
US inflation in May was up 1% over April 2022, and 8.6% above a year earlier. Of the 1% increase in May over April about half was from increase in prices of appliances and furniture and consumer items bought from stores such as Walmart and Target. The trend is shifting quickly as buyers are shifting purchases out of this category and spending more on travel and eating out, entertainment. Retailers such as Target are stuck with excess inventory and plan to discount items. This will result in an easing of inflation.
Shortage of semiconductors for cars are persisting but should ease at some time. Service cost continue to increase. Overall there should be an easing of inflation but not enough for the Fed to change its policy of interest rate increases.
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