I wish the federal government would back off a bit. Then we might know exactly where we stand. Eviction and foreclosure moratoriums, a $1 trillion plus infrastructure bill, and now a $3.5 trillion budget blueprint will only cloud things on this economy.

The Labor Department reported Wednesday that its consumer-price index rose 5.4% in July from a year earlier, the same pace as in June and the highest 12-month rate since 2008.

The CPI climbed a seasonally adjusted 0.5% in July from June, a slightly cooler pace than its 0.9% increase in June from May.

The index measures what consumers pay for goods and services, including groceries, clothes, restaurant meals, recreation and vehicles. The so-called core price index, which excludes the often volatile categories of food and energy, increased 4.3% from a year before.

Wall Street Journal