U.S. economic resumption drives inflation, labor market up

11.06.2021 - Kulakov Vladimir
U.S. economic resumption drives inflation, labor market up

Consumer prices in the United States reached historic highs in May, pointing to the sharpest level of jump recorded in almost 13 years. The resumption of the country’s economy fueled an expansion in travel-related services, while constraints in global semiconductor supplies sent prices of used motor vehicles up.

The consumer price index rallied 0.6% higher in May, sustaining April’s upbeat record. Food prices also gained 0.4%, but crude prices plunged deeper for two consecutive months. On an annual basis, the CPI hiked 0.5% to secure its strongest year-on-year jump since August 2008.

Easing layoffs seen in the labor market might support inflation, with employers implementing wage increase in a bid to resolve the country’s scarce workforce. But this would take longer as generous unemployment claims and coronavirus-driven fears prompted millions of Americans to stay at home.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.net or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?