The inflation report for April brought no good news. The year-over-year inflation rate was 8.3%. The monthly “core” inflation, stripping away volatile food and energy prices, was 0.6%, which comes to 7.4% at a compounded annual rate.

(SOURCE) https://www.cnn.com/2022/05/12/opinions/the-bad-news-about-economy-sachs/index.html