Thanks to Gasoline, Inflation Hits 2.8% in June

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Monika Bauerlein,
CEO

Dear Reader,

December is make-or-break for Mother Jones’ fundraising. We have a $350,000 goal that we simply cannot afford to miss. And in "No Cute Headlines or Manipulative BS," we explain, as matter-of-fact as we can, how being a nonprofit means everything to us. Bottom line: Donations big and small make up 74 percent of our budget this year and are urgently needed this month, and all online gifts will be matched and go twice as far until we hit our goal. Please pitch in if you can right now.

December is make-or-break for Mother Jones’ fundraising, and in "No Cute Headlines or Manipulative BS," we hope that giving it to you as matter-of-fact as we can will work to raise the $350,000 we need to raise this month. Donations make up 74 percent of our budget this year, and all online gifts will be matched and go twice as far until we hit our goal.

While we’re on the subject of inflation, here is today’s update of the Consumer Price Index for June:

The CPI is up 2.8 percent over the past year while core CPI (excluding food and energy) is up 2.2 percent. It’s starting to look like there’s finally some inflationary pressure building, though it’s hard to tell yet whether it will continue. Gasoline is up 24 percent over the past 12 months, and that might moderate or even decline if OPEC follows through on its promise to increase production in order to make up for the Iran embargo. Wait and see.