'WHAT AN UGLY CPI PRINT'
US Inflation Just Hit Its Highest Level In 40 Years
The Consumer Price Index jumped to 8.6 percent in May, the highest figure its reached in four decades.
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The Lede
The Consumer Price Index (CPI) has shown that US inflation reached a 40-year high of 8.6 percent last month, driven by the rising cost of shelter, gas and food.
Key Details
- According to the index, the cost of living increased by one percentage point from April.
- The latest CPI figures show that the energy and gasoline indexes rose 3.9 and 4.1 percent in May, respectively.
- Over the month, the food index grew by 1.2 percent and the food at home index increased 1.4 percent.
