U.S. inflation climbs to 0.6% as food prices, health care services surge in June

Well, there is no inflation if you don’t eat food, live under a roof, or participate in the consumer economy.

The Bureau of Labor Statistics (BLS) released its consumer price index (CPI) on Tuesday and it did not look good for the immediate future, particularly with the Federal Reserve printing money like it is nobody’s business.

In June, the annual inflation rate surged to 0.6 percent, up from the 0.1 percent boost in May. Unsurprisingly, the biggest contributors to higher prices were goods and services people need.

Food inflation surged 4.5 percent, up from four percent in May. This was also the biggest monthly gain since December 2011.

Medical care services gained six percent, up from 5.9 percent in May.

Shelter costs jumped 2.4 percent, down from 2.5 percent in the previous month.

Gasoline prices skyrocketed 12.3 percent as the energy industry rebounded.

But everyone is worried about deflation?