U.S. inflation unexpectedly accelerates to a 40-year high of 8.6%
ORLANDO, FLORIDA, UNITED STATES - 2022/05/31: Shoppers wait in a check-out line at a Costco wholesale store in Orlando.nflation hit a fresh 40-year high in May in a broad advance, raising prospects that Federal Reserve will keep hiking interest rates aggressively for longer.
The consumer price index increased 8.6% from a year earlier, Labor Department data showed Friday. The widely followed inflation gauge rose 1% from a month earlier, topping all estimates. Shelter, food and gas were the largest contributors.The so-called core CPI, which strips out the more volatile food and energy components, rose 0.6% from the prior month and 6% from a year ago, also above forecasts.
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