U.S. consumer prices in June accelerated at the fastest annual pace since November 1981 — rising 9.1% year-over-year, up from May’s 40-year high of 8.6%.
Soaring food prices contributed significantly to the surge with the category seeing increases of 1% over the month and 10.4% annually, the biggest 12-month increase since the period ending February 1981.
Grocery prices rose 1% last month and 12.2% on a year-over-year basis with the prices of cereal, bread, and chicken seeing increases of…
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