12 May 2021
The latest gauge on inflation released Wednesday morning showed that prices rose 4.2% over last year, based on the Consumer Price Index (CPI).
Why it matters: The gains were highest since September 2008. Prices jumped significantly compared to the start of the pandemic last year, when lockdowns drove down demand.
For context: Prices grew 2.6% year-over-year in March as the U.S. administered its 100 million COVID-19 vaccine dose, weeks ahead of schedule.
- Consumer prices have been more volatile over the past year than at any point in decades, Axios' Felix Salmon writes.
This story is breaking news. Please check back for updates.
Transcripts show George Floyd told police "I can't breathe" over 20 times
Section2Newly released transcripts of bodycam footage from the Minneapolis Police Department show that George Floyd told officers he could not breathe more than 20 times in the moments leading up to his death.
Why it matters: Floyd's killing sparked a national wave of Black Lives Matter protests and an ongoing reckoning over systemic racism in the United States. The transcripts "offer one the most thorough and dramatic accounts" before Floyd's death, The New York Times writes.
The state of play: The transcripts were released as former officer Thomas Lane seeks to have the charges that he aided in Floyd's death thrown out in court, per the Times. He is one of four officers who have been charged.
- The filings also include a 60-page transcript of an interview with Lane. He said he "felt maybe that something was going on" when asked if he believed that Floyd was having a medical emergency at the time.
What the transcripts say:
- Floyd told the officers he was claustrophobic as they tried to get him into the squad car.
- The transcripts also show Floyd saying, "Momma, I love you. Tell my kids I love them. I'm dead."
- Former officer Derek Chauvin, who had his knee on Floyd's neck for over eight minutes, told Floyd, "Then stop talking, stop yelling, it takes a heck of a lot of oxygen to talk."
Read the transcripts via DocumentCloud.