Eric Zuesse -- U.S. Ukraine Policy Leads U.S. Inflation-Rate Higher

 

U.S. Ukraine Policy Leads U.S. Inflation-Rate Higher   Eric Zuesse, June 12, 2022   As-of the latest reported month, which was May 2022, the annual inflation-rate in the U.S. for “Fuel Oil” is 106.7% (see “Table A. Percent changes in CPI for All Urban Consumers (CPI-U): U.S. city average”, which document also notes that “The index for fuel oil more than doubled, rising 106.7 percent; this represents the largest increase in the history of the series, which dates to 1935.”). The second-highest rise is for “Gasoline (all types)” 48.7%. The third-highest is “Utility (piped) gas service” 30.2%. Those are the three highest-inflation-rate categories among the 14 categories that the U.S. BLS (Bureau of Labor Statistics) tracks (which 14 categories also include the following 11: Food at home, Food away from home, Electricity, Commodities, New vehicles, Used cars and trucks, Apparel, Medical care commodities, Shelter services, Transportation services, and Medical care services). All 14 of those categories together inflated at an annual rate of 8.6%, as-of May 2022.