Why people are worried about inflation

Consumer prices rose a little over half a percent in May. Over the last year, prices are up 5% — the biggest 12-month increase since August of 2008. It’s unclear so far whether the price hikes we’re seeing are a short-term story or a long one. On today’s show, we look at what makes inflation so worrying. Also on the program: Why 5 million Americans are still receiving extended federal unemployment benefits, a look at the economic challenges of ramping up wind energy production, and a conversation about the Biden administration’s debt relief for Black farmers.