Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: One was killed, another injured in a raid by an Israeli drone on the city of Khiam in South Lebanon
London views possibility of setting fire to tanker in port of friendly country to Russia to damage port infrastructure, initiate an international probe: Moscow
One of London's scenarios involves setting up accident with 'undesirable' tanker in one of the bottlenecks of maritime communications: Russian foreign intelligence agency
London plans to organize major sabotage with tankers to declare transportation of Russian oil to international shipping: Russian foreign intelligence agency
UK intelligence agencies plan to use NATO allies to launch massive raid on 'Shadow Fleet': Russian foreign intelligence agency
Palestinian Ministry of Health: Two were martyred in Israeli shelling that targeted a besieged house in the town of Qabatiya in Jenin
At least 68 dead in migrant shipwreck off Yemen: IOM
Trump: We want to feed the people in Gaza, we do not want them to starve.
US President Donald Trump: We will impose sanctions on Russia if it does not end the war on Ukraine.
Israeli media: Polls show that 52% oppose Prime Minister Benjamin Netanyahu while only 29% support him.

May inflation projected to be 'elevated' by W. House

  • By Al Mayadeen English
  • Source: Agencies
  • 9 Jun 2022 00:13
3 Min Read

Inflation in the United States does not seem to be looking any better, as May inflation is projected to be elevated in light of poor measures from Washington.

  • x
  • Shoppers carry bags of purchased merchandise at the King of Prussia Mall in Pennsylvania, US, December 8, 2018 (Reuters)
    Shoppers carry bags of purchased merchandise at the King of Prussia Mall in Pennsylvania, US, December 8, 2018 (Reuters)

The White House projected on Wednesday that US inflation was still "elevated" in May despite hopes that a pivotal report set to be released later this week will show that price hikes have been mitigated.

Consumer prices in the United States, the world's largest economy, have been on a sharp increase, the sharpest in more than four decades, as gas prices are reaching record highs daily after the US and the West drove Russia out of the energy market in light of the Ukraine war as well as the ongoing cuts in the supply chain brought upon by the Covid-19 pandemic.

The Labor Department will release consumer price data for May on Friday, and economists are projecting that the monthly increase will accelerate after slowing down in April when the Consumer Price Index posted an 8.3% year-on-year increase.

"We expect the headline inflation number to be elevated," White House Press Secretary Karine Jean-Pierre told reporters traveling with President Joe Biden on Air Force One. 

Biden has pushed curbing inflation to the top of his domestic agenda, though he is making the revelation that he has only a few tricks up his sleeve that would directly impact prices.

Related News

UK, NATO plotting sabotage of Russian oil tankers, says SVR

Clashes erupt in Deir Hafer between SDF, Syrian army factions

The Federal Reserve embarked on the path of aggressively hiking interest rates to combat inflationary pressures. The goal is sustaining economic expansion while avoiding a recession, the Fed claims.

"We continue to believe that the economy can transition from what has been a historic recovery ... to stable steady growth," Jean-Pierre said as Biden has been adhering to an upbeat message about the outlook.

Jean-Pierre, however, did acknowledge that the impact of the war in Ukraine has continued to drive up prices, including airfares.

Before the start of the war in Ukraine in February, Biden's approval rates have been in a decline - and now much more so, with the unprecedented inflation rates, baby formula shortage, increasing mass shootings, abortion ban, continuous supply of weapons to Ukraine, and beyond. 

A consumer survey conducted by the University of Michigan (UMich) in late May said US consumer sentiment is nearing March lows once again in light of surging inflation exacerbated by the Ukraine war, which is heavily affecting the buying decisions of Americans.

The developments earned concerns from consumers across the world, including those in the United States, and the reduction in consumer spending caused by the war-induced supply disruptions has weighed on the US economy as it is 70% made up by consumer expenditure.

US home mortgages grew at their slowest since April 2019, and data that came out Thursday from the federal home loan agency Freddie Mac reinforced the notion that rising mortgage rates and other ownership costs have started curbing the vibrant US housing market.

  • United States
  • Russia
  • COVID-19
  • inflation
  • Sanctions on Russia
  • Ukraine
  • Oil prices
  • Joe Biden
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

A rescued crew member from the ETERNITY C vessel in a video released by the Yemeni Armed Forces on July 28, 2025 (Yemeni Military Media)

Yemen Navy reveals fate of targeted Eternity C ship crew

  • Politics
  • 28 Jul 2025
An Israeli tank explodes following an ambush by al-Qassam Brigades in Gaza, Occupied Palestine, undated (Al-Qassam Military Media)

Al-Qassam strikes Israeli vehicles in Gaza, inflicts casualties

  • Politics
  • 30 Jul 2025
UAE lodges complaint against Israeli ambassador over 'misbehavior'

UAE lodges complaint against Israeli ambassador over 'misbehavior'

  • Politics
  • 1 Aug 2025
Protesters chant anti-Israeli slogans as they carry a banner that reads:" Freedom for Palestine, Alliance stop the war," during a demonstration in support of Palestinians in Gaza, outside the Israeli embassy, in Athens, Monday, June 9, 2025 (AP)

Athens mayor slams Israeli ambassador over Gaza war, graffiti claim

  • Politics
  • 3 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A member of the al-Qassam Brigades, the armed wing of Hamas, takes part in a parade as he celebrates a ceasefire agreement between Hamas and the Israeli regime in Deir al-Balah, Gaza Strip, Sunday, January 19, 2025 (AP)
Politics

Al-Qassam: We’ll allow aid to Israeli captives if Gaza siege ends

Freed Lebanese freedom fighter Georges Abdallah during an interview on Al Mayadeen, which aired on Sunday, August 3, 2025 (Al Mayadeen screengrab)
Politics

Exclusive: Resistance key to building state, Georges Abdallah says

United Nations Secretary General Antonio Guterres gives a statement about the situation in Gaza at UN headquarters, Friday, June 27, 2025 (AP)
Politics

UN warns Gaza faces water crisis, looming famine under Israeli siege

Israeli soldiers drive their armored personnel carrier along the Gaza Strip, in southern occupied Palestine, Wednesday, July 30, 2025 (AP)
Politics

Ex-Israeli general says Gaza starvation campaign isolated 'Israel'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS