U.S. consumer prices accelerated in May to the highest since 1981, as Americans grapple with a surge in the cost of gas, food, and shelter, data showed Friday.
The Bureau of Labor Statistics’ May Consumer Price Index (CPI) showed a year-over-year increase of 8.6% last month, up from 8.3% in April. Economists were expecting an 8.3% increase in May, according to estimates compiled by Bloomberg.
On a monthly basis, the broadest measure of inflation climbed 1.0%, compared to 0.3% in April. “Core”…
Source link
