For over 30 years, Gary D. Halbert has been publishing newsletters for the investment community. Now you can receive his FREE Forecasts & Trends E-Letter delivered each week to your e-mail inbox. Gary covers the latest economic forecasts and market analysis, and you'll enjoy his always-spirited political commentaries.

This Week's Forecasts & Trends E-Letter

Consumer Prices Rise Most In 13 Years, Up 5% In May

June 15, 2021

We’ll touch on several bases today. We begin with last week’s surprising report on inflation in May, which saw consumer prices rise the most in 13 years. For the year ended in May, the CPI surged at an annual rate of 5%, well above the pre-report consensus.

As I’ve explained in recent weeks, a big part of the recent increase in inflation is because we are coming off some extremely low inflation readings from this time last year during the COVID recession. The question is whether the latest jump in May is more than the calendar-effect or is it truly just “transitory,” as the Fed would have us believe?

Finally, we’ll look at a recent key ruling by the Supreme Court which significantly reigns in the Internal Revenue Service. This landmark decision (in my opinion) has received almost no coverage by the mainstream press, so I want to make sure my clients and readers know about it. Let’s get started.

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