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The Dollar’s Purchasing Power Drops 2.9% in May from Year Ago, Fastest Drop since Nov 2011

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Consumer price inflation, as measured by the Consumer Price Index, released this morning by the Bureau of Labor Statistics, jumped by 2.8% in May from a year ago, after having already jumped by 2.5% in April.

Inflation is just a nice way of saying that the dollar is losing its purchasing power, and that income earned in dollars is buying less and less, an experience consumers go through when they buy stuff. The purchasing power of the dollar dropped 2.93% in May from a year ago, the fastest drop since November 2011.

Source: The Dollar’s Purchasing Power Drops 2.9% in May from Year Ago, Fastest Drop since Nov 2011 | Wolf Street

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1 Comment

  1. i bought 2×4 lumber last month, i bought the premium wood, because lately the cheaper is so warped, basically it is not fit to build anything with. i paid $3.58 a piece in may. I needed more wood this month and paid, $4.24 a piece, that is a 66 cent increase, and when you live on a budget and money is very tight. i wanted to buy 10 pieces, but ended up buying only 5 pieces, and will have to make due.

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