Well-known Chinese news site Sina (NASDAQ: SINA) recently reported that, according to the data released by the United States Department of Labor, the U.S. May CPI (Consumer Price Index) arrived at a surprising five percent. Some analysts expressed the belief that, even if next May the U.S. CPI drops to four percent, the lost purchasing power might never recover. Analysts showed that the U.S. dollar purchasing power is declining at a pace never seen in the past 40 years. In the past three months, the U.S. dollar purchasing power declined by 2.4 percent, which was the largest three-month decline since 1982. Calculated at an annual rate, the three-month decline represents a 9.5 percent annually. In May, the U.S. market saw durable goods prices skyrocket year-over-year by 10.3 percent, especially for a 30 percent price increase for used cars. Housing costs, which represent one third of the CPI, increased by 2.2 percent in the past 12 months. The S&P CoreLogic Case-Shiller Home Price Index increased by 13.2 percent year-over-year, which is the highest increase since December 2005.
Source: Sina, June 12, 2021
https://finance.sina.com.cn/stock/hkstock/hkstocknews/2021-06-12/doc-ikqciyzi9271144.shtml