US consumer prices rise moderately; underlying inflation strong

The latest data indicates the US Federal Reserve could continue with its interest rate hikes later in the summer.

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Yeah, just went grocery shopping last night. That hurt.
- We were lucky enough to have bought our house in 2017 and refinanced during the historic low rates of 2020. At this point we are paying more per month for food than we do for our mortgage. I feel extremely fortunate and I feel badly for the millions out there dealing with this plus rent increases and the moratorium on student loans ending this summer.
  
  Yeah, I'm in that renter group and it suuuuucks. We wanted to move to another part of the city but with my states rent control it's made more sense to stay put because our rent is still right around what it was five years ago which is wayyyy better than if we signed a new lease at another place.