by Mike Maharrey
GoldSeek
Strike up the band and wave the victory banners! Inflation is dead!
Or is it?
The May Consumer Price Index (CPI) report was cause for optimism. But price inflation is like that stubborn weed in the driveway. Just when you think you’ve killed it for good, it pokes back through a crack.
Keep in mind that this time last year, we were also talking about a victory over inflation.
In July 2023, an analyst told CNBC, “There has been significant progress made on the inflation front, and today’s report confirmed that while most of the country is dealing with hotter temperatures outside, inflation is finally cooling,”
It wasn’t quite what it seemed.