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Economy

Inflation is Here: Prices Jump 5% in May alone not seen since 2008

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The U.S. Labor Department reported consumer prices for May accelerated 5%, their fastest pace in almost 13 years. Economists surveyed by the Dow Jones had previously predicted that the Consumer Price Index, or CPI would increase by 4.7%.

Prices haven’t jumped this much since August of 2008, just before the U.S. spiraled into the Great Recession. Even last month saw a price jump of 4.2% from April 2020. Since the year began, the price index has increased 3.8%.

You can follow Jenny Goldsberry on Twitter @jennyjournalism.

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Economy

VIDEO: Thousands of packages looted as thieves rob L.A. bound trains

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@JohnSchreiber

The lawlessness of California continues to manifest itself in very visible ways. Videos are emerging on social media showing huge amounts of trash, and in particular, UPS boxes and amazon packages that were en route to residential addresses.

The trash is piling up jut next to the train tracks, where CBS Los Angeles reports train burglaries are on the rise. “There’s loot3ed packages as far as the eye can see. Amazon packages, @UPS boxes, unused Covid tests, fishing lures, epi pens. Cargo containers left busted open on trains” tweeted John Schreiber.

Schreiber added, “I’m told by law enforcement these @UPS bags are especially sought after by thieves opening cargo containers…they are often full of boxes with merchandise bound for residential addresses. More valuable than say, a cargo container full of low value bulky items like toilet paper.”

Schreiber’s multiple videos posted to Twitter show the absolute disgust resulting from the thievery. “As you can see, trains frequently slow or stop in this area as they get worked into the @UnionPacific Intermodal facility near Downtown LA. The thieves use this opportunity to break open containers and take what’s inside, I’d say every 4th or 5th rail car had opened containers.

In another tweet with more photos of damaged property, Schreiber writes, “missing a package? Shipment delayed? Maybe your package is among the thousands we found discarded among the tracks. This is but one area thieves have targeted trains. We were told this area was just cleaned up 30 days ago so what you see is all within the last month. @CBSLA.”

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