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US inflation unexpectedly accelerates to 40-year high of 8.6%

Summary by Ground News
US inflation hit 8.6% over the past year, highest rate in 4 decades. U.S. consumer prices accelerated in May as gasoline prices hit a record high and the cost of services rose further, suggesting that the Federal Reserve could continue with its 50 basis points interest rate hikes through September to combat inflation.
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