U.S. Inflation At Highest In Four Decades As Fuel Prices Soar ...Middle East

U.S. inflation in May saw its highest annual level since December 1981, as soaring energy and food prices accelerated the spike in the consumer price index to 8.6 percent last month, above analyst expectations. The U.S. consumer price jumped by 8.6 percent over the last 12 months, with the indexes for shelter, gasoline, and food being the largest contributors, the U.S. Bureau of Labor Statistics said on Friday. That’s the largest 12-month increase since the period ending December 1981.  After declining in April, the energy index rose…

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