Published 2 years ago

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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Times of India

US inflation quickens to 40-year high, pressuring Fed and Joe Biden

US inflation accelerated to a fresh 40-year high in May, a sign that price pressures are becoming entrenched in the economy. That will likely push the Federal Reserve to extend an aggressive series of interest-rate hikes and adds to political problems for the White House and Democrats.

2 years ago·India

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BBC News

Energy and food drive US inflation to 40-year high

Rising energy and food costs pushed inflation to 8.6% in May, the highest rate in more than 40 years.

2 years ago·United Kingdom

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The Guardian

US inflation hits 40-year high of 8.6% as food, gas and shelter costs rise

Inflation rate sends stock markets into tailspin as S&P 500 falls over 2.6% and Nasdaq down over 3.4%

2 years ago·London, United Kingdom

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The Hindu

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

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

2 years ago·India

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The Independent

US inflation hits highest rate in four decades

Consumer price index increase for May surpassed record set in 1981

2 years ago·London, United Kingdom

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Reuters

Americans feel the heat as U.S. annual inflation posts largest gain since 1981

U.S. consumer prices accelerated in May as gasoline prices hit a record high and the cost of food soared, leading to the largest annual increase in nearly 40-1/2 years, suggesting that the Federal Reserve could continue with its 50 basis points interest rate hikes through September to combat inflation.

2 years ago·United Kingdom

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