U.S. inflation unexpectedly accelerates to a 40-year high of 8.6%
ORLANDO, FLORIDA, UNITED STATES - 2022/05/31: Shoppers wait in a check-out line at a Costco wholesale store in Orlando.nflation hit a fresh 40-year high in May in a broad advance, raising prospects that Federal Reserve will keep hiking interest rates aggressively for longer.
The consumer price index increased 8.6% from a year earlier, Labor Department data showed Friday. The widely followed inflation gauge rose 1% from a month earlier, topping all estimates. Shelter, food and gas were the largest contributors.The so-called core CPI, which strips out the more volatile food and energy components, rose 0.6% from the prior month and 6% from a year ago, also above forecasts.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US inflation hits 40-year high of 8.6% as food, gas and shelter costs riseInflation rate sends stock markets into tailspin as S&P 500 falls over 2.6% and Nasdaq down over 3.4%
Read more »
Baby Holly was left at church by mysterious nomads before going missing for 40 yearsTexas officials are pleading for information that could help solve the 40-year-old murder of the child’s parents
Read more »
Driving hack saves motorists hundreds of pounds & can see you use 40% less fuelA SHREWD motorist has shared a savvy driving tip which could save you hundreds of pounds – and use 40 PERCENT less fuel. Hypermiling involves adopting a series of driving techniques and trick…
Read more »
Britney Spears, 40, MARRIES Sam Asghari, 28, at LA mansionBritney Spears has tied the knot with her boyfriend of five-years, Sam Asghari, 28, on Thursday at her sprawling Thousand Oaks, California home.
Read more »
Britney Spears, 40, MARRIES Sam Asghari, 28, at LA mansionBritney Spears has tied the knot with her boyfriend of five-years, Sam Asghari, 28, on Thursday at her sprawling Thousand Oaks, California home.
Read more »
'Baby Holly' found alive 40 years after parents were murdered and dumped in woodsThe missing daughter of a couple who were murdered and dumped in the woods in Texas over 40 years ago has been found alive.
Read more »