The annual inflation in the United States increased 9.1% in June, the Labor Statistics Bureau revealed in its report on Wednesday, with the figure going above analysts’ expectations and reaching the highest level since November 1981. Month on month, Consumer Price Index (CPI) rose by 1.3%.
Sharp growth in the food, gasoline, and shelter prices was the main cause of such a high reading. The energy prices soared 41.6% in June year over year, the highest since April 1980. The food prices surged 10.4% in comparison to the same period last year.
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