Inflation

US Inflation Jumps to 8.6 Percent, Highest in 40 Years

US Inflation Jumps to 8.6 Percent, Highest in 40 Years
People shop at a grocery store in New York on May 31, 2022. Samira Bouaou/The Epoch Times
Andrew Moran
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The U.S. annual inflation rate surged to 8.6 percent in May, topping the market estimate of 8.3 percent.

According to data from the Bureau of Labor Statistics (BLS), the consumer price index (CPI) rose by 1 percent on a month-over-month basis. Key drivers of inflation, such as food, energy, and housing, showed no signs of slowing last month.
Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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