The latest numbers from the Bureau of Labor Statistics show that food prices rose in May. That’s a trend that will likely continue in the short term.

There was a 0.6% increase in prices over April and 5% over the past year, the biggest 12-month inflation spike since 2008.

The renowned investor and policy adviser is skeptical of the Federal Reserve’s insistence that the inflation we’re seeing is “transitory.”

Mark Kugman of Kugman Motors in St. Louis has two answers — one simple and one more complicated.

The personal consumer expenditures price index is one of the Fed’s favorite tools for tracking inflation.

The economists say they expect employment to recover and that recent price spikes for some consumer goods should moderate.

The consumer price index for April showed this week that prices jumped 4.2% year over year.

Sound familiar?

The rise in inflation over the past year is at its fastest rate in more than a decade.

Food commodity prices have been rising steadily over the past several months, leading to an ever-more-expensive supply chain.