scorecardresearchUS inflation reached a new 40-year high in June of 9.1%

US inflation reached a new 40-year high in June of 9.1%

Updated: 13 Jul 2022, 06:12 PM IST
TL;DR.
  • Consumer prices soared 9.1% compared with a year earlier, the government said Wednesday, the biggest 12-month increase since 1981, and up from an 8.6% jump in May. On a monthly basis, prices rose 1.3% from May to June, another substantial increase, after prices had jumped 1% from April to May.
An employee arranges fruit at a supermarket in the Venice Grand Canal Mall in Taguig City, Metro Manila, the Philippines, on Tuesday, July 12, 2022. Philippine central bank Governor�Felipe Medalla�said he won�t rule out at least 100 basis points more of rate hikes this year that would take the policy rate to 3.5% as inflation quickened. Photographer: Veejay Villafranca/Bloomberg

An employee arranges fruit at a supermarket in the Venice Grand Canal Mall in Taguig City, Metro Manila, the Philippines, on Tuesday, July 12, 2022. Philippine central bank Governor�Felipe Medalla�said he won�t rule out at least 100 basis points more of rate hikes this year that would take the policy rate to 3.5% as inflation quickened. Photographer: Veejay Villafranca/Bloomberg