US inflation unexpectedly accelerates to 40-year high of 8.6%1 min read . Updated: 10 Jun 2022, 06:18 PM IST
The consumer price index or CPI increased 8.6% from a year earlier, US Labor Department data showed
US inflation hit a fresh 40-year high in May, unexpectedly accelerating in a broad advance that pressures the Federal Reserve to extend an aggressive series of interest-rate hikes and adds to political problems for the White House and Democrats.
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