Inflation higher than in over a decade...
WASHINGTON (AP) — Gas prices are rising. Auto prices are soaring. Consumer goods companies are charging more for household basics like toilet paper, peanut butter and soft drinks.
All of which is resurrecting fears of an economic threat that has all but disappeared over the past generation: Runaway inflation. It occurs when prices for most goods and services not only rise but accelerate, making the cost of living steadily more expensive and shrinking the purchasing power of Americans’ earnings and savings.
Growing jitters about inflation have contributed to a sharp sell-off in stock prices this week. Any significant acceleration of inflation would exert a drag on the market and potentially imperil the economic recovery.
https://www.wrbl.com/news/national/explainer-why-are-fears-of-high-inflation-getting-worse/
US STOCKS-Futures slip with focus on inflation report
May 12 (Reuters) -
U.S. stock index futures slipped on Wednesday as investors cautiously awaited inflation data that could force the Federal Reserve to reconsider its ultra-loose monetary policy.
The U.S. consumer price index (CPI) is expected to rise 0.2% in April after jumping 0.6% in March, while year-over-year CPI is expected to gain 3.6%, data at 8:30 a.m. ET (1230 GMT) is likely to show.
https://finance.yahoo.com/news/us-stocks-futures-slip-focus-103928767.html