scorecardresearchUS inflation hit a new 40-year high last month of 8.6%

US inflation hit a new 40-year high last month of 8.6%

Updated: 10 Jun 2022, 06:59 PM IST
TL;DR.
  • 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. The new inflation figure, the biggest yearly increase since December 1981, will heighten pressure on the Federal Reserve to continue raising interest rates aggressively.
FILE PHOTO: A customer shops at a deli in Reading Terminal Market after the inflation rate hit a 40-year high in January, in Philadelphia, Pennsylvania, U.S. February 19, 2022.  REUTERS/Hannah Beier/File Photo

FILE PHOTO: A customer shops at a deli in Reading Terminal Market after the inflation rate hit a 40-year high in January, in Philadelphia, Pennsylvania, U.S. February 19, 2022. REUTERS/Hannah Beier/File Photo