Consumer prices growth spiked in May as another surge in oil prices spurred inflation higher across the U.S. economy, according to data released Friday by the Labor Department. The Labor Department’s consumer price index (CPI), a closely watched gauge of inflation, rose 1 percent last in May alone and 8.6 percent in the 12-month stretch ending in May. Inflation landed far higher than the 0.7 percent monthly inflation rate projected by economists and jumped rapidly from a 0.3 percent monthly increase in prices in April The annual inflation rate also rose from 8.3 percent in April, where economists expected it to remain last month, to 8.6 percent. May's annual inflation marked the fas
Hence then, the article about monthly annual inflation spiked in may as oil fueled price hikes was published today ( ) and is available onThe Hill ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( Monthly, annual inflation spiked in May as oil fueled price hikes )