Prices rose at an even faster rate in May. We’ll also look at where inflation hit the hardest last month, President Biden’s fighting words with big oil, and a stock selloff. But first, see why sriracha sauce might be the next product in short supply. Welcome to On The Money, your nightly guide to everything affecting your bills, bank account and bottom line. For The Hill, we’re Sylvan Lane, Aris Folley and Karl Evers-Hillstrom. Subscribe here. Inflation soars as oil fuels price hikes 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 Dep
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