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Everyone has been feeling it one way or another, whether you simply scoffed at a $3.49 price tag on an avocado the other day at the grocery store or are frantically looking for a new place to live because your landlord just doubled the rent. You know what I’m talking about – that word that’s currently sharing the news headline spotlight with gun violence, abortion, Ukraine, climate change, monkey pox, baby formula and Jan. 6 – inflation.

According to figures released by the Department of Labor on June 10, inflation hit a 40-year high in May, with the consumer price index rising 8.6% annually. In that month alone, prices rose 1%, compared to 0.3% in April. Gas prices surged 48.7% annually as of May and 4.1% from April to May, while grocery costs jumped 11.9% and 1.4%.

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Natasha Chilingerian

Natasha Chilingerian has worked in the credit union space for over a decade. She joined CU Times as managing editor in 2015 and was promoted to executive editor in 2019. Before that, she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union) in Los Angeles from 2013-2015, and as a CU Times freelancer from 2011-2013. She has been a professional writer and editor for more than 17 years, specializing in news and lifestyle journalism as well as marketing copywriting for companies in the finance and technology space.

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