US inflation continued to go up in June, the consumer price index jumped 9.1% than a year ago. Prices are rising at the fastest pace in 41 years. Gas prices led the way up nearly 60% from the same time last year, energy prices increased by 41.6%, whereas, food prices continue to be sky high with meals at home costing families 12% more than last year.
The increase was largely driven by gas and energy prices which soured last month accompanied with a spike in rents not seen since the mid 80’s. Stock closed a bit lower on the news. All of this is leading to fear in the economy with Bank of America today forecasting a mild recession starting in the second half of the year.
As the Inflation rate is moving at a very fast pace. Nowadays, people start understanding the value of investing in the stock market, and this majority happened after the corona period. After a pandemic, people start understanding the value of the second source of money and the stock market is one of the best ways to generate the second source of money.
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