U.S. inflation hit a new 40-year high last month of 8.6% 

CONSUMER PRICES surged 8.6% last month from 12 months earlier, faster than April’s year-over-year surge of 8.3%. On a month-to-month basis, prices jumped 1% from April to May, a steep rise from the 0.3% increase from March to April. Much higher gas prices were to blame for most of that increase. / ALEX BRANDON / ASSOCIATED PRESS FILE PHOTO
WASHINGTON (AP) – The costs of gas, food and other necessities jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs.  Consumer prices surged 8.6% last month from 12 months earlier, faster than April's year-over-year surge of 8.3%, the Labor Department said Friday.  On a month-to-month…

Register to keep reading or subscribe today and receive unlimited access.
Register Now Already a Subscriber? Login now

Purchase NowWant to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.

No posts to display