Kitco News: Will tomorrow's inflation data release shock us?

May’s consumer price index is set to be released tomorrow morning, and the broad expectation is that inflation will climb higher compared to the previous month’s reading of 4.2%.

Gary Wagner, editor of TheGoldForecast.com, agrees with the consensus expectation.

“I agree that we should see an uptick in the number of inflation,” Wagner told David Lin, anchor for Kitco News. “The reason being, oil continues to rise, and commodities continue to rise, so the key elements of goods and services needed by the public are more expensive, and that of course is really the definition of inflation.”