This article was added by the user . TheWorldNews is not responsible for the content of the platform.

Inflation is "here for a while": investment experts

NEWYou can now listen to Fox News articles!

Macro Trends Advisors LLC founding partner Mitch Roschelle warned on Sunday that inflation will be "for a while" as consumer prices hit a new 40-year high last month. 

Talking about "Fox News Live", Rochelle predicted that price increases would likely be even "higher".

"The cost of shelter, which is the cost of housing, is a lagging indicator by the method calculated by the government," he said. "And those prices continue to rise ." 

Roschelle said, "Interest rates are rising , but house prices are rising even at . "The rent is skyrocketing."

Gas prices reach $ 5 nationwide for the first time in over 20 years

"So I'm you The tailwind that I think has it will boost inflation. " 

Earlier this month, the Ministry of Labor raised the Consumer Price Index (CPI), a broad indicator of prices for daily necessities such as gasoline, groceries and rent, by 8.6% from the year in May. I made it clear. in front. Prices have risen 1% in the month since April. These numbers were higher than the 8.3% headline numbers and 0.7% monthly profit forecasts predicted by Refinitiv economists. 

Macro Trends Advisors LLC founding partner Mitch Roschelle warned inflation is forcing Americans to make choices as prices hit a new four-decade high in May.

Macro Trends Advisors LLC founding partner Mitch Roschelle Inflation warned has forced Americans to make a choice as prices reached new 40-year highs in May. (istock)

Marked the fastest pace of inflation since December 1981 . 

Roschelle said higher prices are forcing Americans to "make choices."

Shelter costs, which account for about one-third of the CPI, accelerated in May, rising 0.6%. This recorded the fastest monthly increase since 2004. Every year, shelter costs rise 5.5%, the fastest since February 1991. 

Energy prices in May rose 3.9% from the previous month. It has increased by 34.6% from last year. The average price of gasoline is 48.7% higher than a year ago and 7.8% higher than April. Overall, fuel prices rose 16.9% on a monthly basis in May, pushing the one-year rise to a staggering 106.7%. 

According to AAA, the national average for gas on Sunday was $ 4.90, slightly lower than the previous day and 30 cents higher than the previous month. According to the 

Association, gasoline prices have recently set a new record, with a national average of over $ 5 per gallon two weeks ago. 

Roschelle points out that "oil prices are flowing virtually everything we consume, whether diesel or gasoline." Did.

"Food on the table must be delivered to the store where you purchased it, or the restaurant that serves it, wherever you come from," he continued. rice field. 

"If the price of gasoline remains the same or is rising, and more importantly, if the price of diesel is rising, it is. I think will boost inflation. "

 Roschelle went on to point out why he believed inflation would continue for" a while ". 

Click here to get the FOX News app

"Actually, Midterm Election Issues, When Potential Presidential Candidates reach the Trail, they start going to Iowa and New Hampshire, and perhaps could be a problem. Similarly, "he continued.