Wall Street stocks and most financial markets have simply shrugged off news that inflation levels have accelerated to the fastest pace in more than decade. On Thursday morning, the U.S. Labor Department revealed that headline consumer prices, also known as the Consumer Price Index or CPI, rose 5% year-over-year in May, higher than Wall Street expectations and the fastest pace on record since August 2008. The CPI, a gauge that represents a basket including food, energy, groceries, housing costs and sales across a spectrum of goods, climbed at a…
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