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I read that the inflation rate was 5% in June. Does that really mean inflation was 60% a year that month?

April 26, 2017consumer inflation June life prices rate read shopping Society

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I read that the inflation rate was 5% in June. Does that really mean inflation was 60% a year that month?

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Looks like the inflation rate would be somewhat higher for the year. June is a short month of 30 days. You have 7 months with 31 days. But the main thing is not to take the figures too seriously. They always make things appear better than they really are. So if they say 5% they are probably lopping of another 2 or 3% And one lovely thing about inflation figures. taxes are never considered. Now tell me you aren’t going to be paying more taxes to meet your living expenses. Income taxes and sales taxes. And on those figures, neither is included. The government wouldn’t even know how to tell the truth.