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Yesterday's Consumer Price Index reading shows that prices for food, energy and products like used cars increased 5% compared to May of 2020. It’s the biggest year-over-year increase in almost 13 years.

  • Plus, President Biden strikes a different tone on the world stage.
  • And, brace yourself for cold and flu season this year.

Guests: Axios' Felix Salmon, Marisa Fernandez and Margaret Talev.

Credits: Axios Today is produced in partnership with Pushkin Industries. The team includes Niala Boodhoo, Sara Kehaulani Goo, Dan Bobkoff, Alexandra Botti, Nuria Marquez Martinez, Sabeena Singhani, Amy Pedulla, Naomi Shavin, and Alex Sugiura. Music is composed by Evan Viola. You can reach us at podcasts@axios.com.

Go deeper:

Go deeper

Jun 10, 2021 - Podcasts

What’s next for mass transit

During the pandemic, ridership of mass transit pretty much collapsed. Now, as the country reopens, transportation experts are hoping that commuters will come back. But what if they don’t?

  • Plus, the uptick in trans murders in the U.S.
  • And, President Biden reverses the Trump administration's attempted ban on TikTok.
Updated Jun 10, 2021 - Economy & Business

Consumer prices rose 5% from last May, as pace of inflation ticks up

Data: U.S. Bureau of Labor Statistics; Chart: Axios Visuals

Consumer prices rose last month by 5% compared to May of 2020, marking the biggest year-over-year gain since August 2008, according to Consumer Price Index data released this morning. Prices were 0.6% higher in May than they were in April.

Why it matters: April’s CPI reading intensified concerns that inflation is heating up and will be hard to contain. Today’s data could stoke those fears further and contribute to a self-fulfilling cycle of rising prices.

Dan Primack, author of Pro Rata
Jun 10, 2021 - Economy & Business

What the latest inflation numbers mean for dealmakers

Illustration: Aïda Amer/Axios

Inflation here. Inflation there. Inflation everywhere.

Driving the news: Consumer prices rose 5% year-over-year, including a 0.06% bump between April and May, according to Consumer Price Index data released this morning. It's the biggest year-over-year gain since August 2008, and came in well above economist estimates.

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