Seattle-Area Inflation Hits 4.9% as Energy Costs Surge 23.7%

2 articles · Updated · MyNorthwest · May 12

Seattle-area consumer prices rose 4.9% from a year earlier and 1.3% over the latest two months, both faster than the national increases of 3.8% and 0.6%.
Energy drove much of the jump: the regional energy index climbed 23.7% year over year, while gasoline prices rose 25.7% annually and 28.9% in the two months through April.
core inflation still ran hot at 3.8%, a full point above the 2.8% national core rate, with shelter up 2.4% and recreation costs up 8.1%.
Food at home offered limited relief, falling 1.2% over two months, though overall food prices were still 3.8% higher than a year earlier.
The data, released after the Fed held rates at 3.50%-3.75% last month, make near-term rate cuts look less likely.

As a new Fed chair takes over, how will the central bank navigate rising inflation without crushing a weak job market?

With the Strait of Hormuz closed, is the global economy now facing an unavoidable path to a severe recession?

Is the Iran war's energy shock permanently accelerating the global transition to green energy, despite the immediate economic pain?