This month inflation was 5% year over year. If we annualize the inflation this year (May/Dec)^(12/5) it would be 8%. In normal years, the first 5 months are usually where most of the increases take place and inflation usually moderates after May. If I remove 2020 and use the average Dec/Dec to May/Dec ratio to project this years inflation it comes out to over 5%.
I don’t think this is a normal year and while I believe inflation will probably moderate in the second half of the year, I’m guessing inflation for 2021 is going to be >6%.
What say y’all? And to make it more political, will this kill Biden and the Democrats plans for more spending?