Sumary of Is Rampant 14% Inflation Possible Today?:
- According to the latest Consumer Price Index (CPI) data, the inflation rate in the United States was 5.4% in June.
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- There was also a great deal of government spending, the end of the gold standard, the removal of wage and price controls, the oil crisis of the 1970s, and several other contributing factors.
- For example, the rise of e-commerce and discount shopping chains have made it easier for consumers to shop around for the best prices.