CNBC: inflation fears reach a fever pitch

Producer prices rose 6.6% in May, their biggest annual jump in nearly 11 years as inflation continued to build in the U.S. economy, CNBC reports.  

Also in CNBC: a new report by the Federal Reserve Bank of New York found fears of inflation hit their highest level on record.  

NRCC Comment: “Democrats rammed through a socialist stimulus bill on a party-line vote and now we’re seeing massive inflation. Voters will hold House Democrats accountable for making everything more expensive.” – NRCC Spokesman Mike Berg