Inflation continued to surge in May, increasing at the quickest pace in 40 years as consumers face rising challenges at the gas station and grocery store.
The Consumer Price Index (CPI) published Friday by the Bureau of Labor Statistics rose 8.6% from a year ago, up from April’s reading of 8.3% and higher than economists had projected.
Federal Reserve policymakers tasked with bringing prices back down to earth are likely to take cues from May’s CPI report on how aggressively they need to…
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