Is This Type of Vicious Inflation Closing In on USA? May 31, 2021 by IWB Sharing is Caring! READ Some day the Fed will reach its 2% inflation target. Your grocery bill may be $1,000 per week then. READ Inflation surged in May to almost 5%, with consumer prices accelerating at the fastest pace in more than 12 years, right before the 2008 GFC.