Summary

• Fears over price inflation returned in a big way last week as bond yields rose in the wake of recent government reports on consumer and producer prices.
• Last week’s CPI and PPI reports both showed price inflation surging to multi-year highs, and not just on oil prices.
• The Trump summit with China’s premier has done little to cap global fears over oil prices.
• We might also add that the Fed’s favored measure of price inflation, the personal consumption expenditure (PCE) index, also appears to be accelerating.

By Ryan McMaken

Originally published on May 16, 2026

Fears over price inflation returned in a big way this week as bond yields rose in the wake of recent government reports on consumer and producer

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