SIREN, from Bank of America analysts: “We now forecast a mild recession this year and expect 4Q/4Q real GDP to decline by 1.4%, followed by a 1.0% increase in 2023.” More from Bloomberg
Despite previous projections that surging prices could be ebbing, a brand new report out today showed a familiar headline: Inflation figures are spiking at historic levels.
Here’s what the latest report looks like by the numbers:
- “The consumer price index, a broad measure of everyday goods and services related to the cost of living, soared 9.1% from a year ago, above the 8.8% Dow Jones estimate,” per CNBC. For context: That is the sharpest inflation pace since December 1981.
- “Excluding the volatile food and energy categories, so-called core prices rose 0.7% from May to June, the biggest such increase in a year,” per the AP.
- “Driving the stunning jump was the energy index, which rose 7.5 percent compared with May, and contributed nearly…
