On Friday, the Bureau of Labor Statistics reported that the consumer price index rose 8.6% in May from a year ago, the largest increase since December 1981.Food, gas, and energy costs have all risen in recent months, with fuel oil up 106.7% in the last year.
Housing expenses, which account for approximately a third of the CPI, increased at the quickest rate in 31 years.The rise in inflation means real wages for workers fall by 0.6% from April and 3% on a 12-month basis.
