U.S. inflation -- already at a 40-year-high -- rose to an annual rate of 8.6% in May, according to the Consumer Price Index summary from the Bureau of Labor Statistics, the UPI website reports today (June 10, 2022).
Inflation was up by 1% in May alone.
Gasoline prices jumped 48.7% in the 12 months ended in May; fuel oil was up 106.7%. and grocery prices are up 11.9% from 12 months ago, according to the report.
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