US sees biggest inflation surge in 30 yrs, with consumer prices rising 5.4% ...News

The US consumer price index jumped higher than expected in June, rising 5.4% compared to the same time last year. This marks its largest monthly gain since 2008, and the biggest surge in inflation the country has seen in 30 years. Inflation surged 4.5% in June, surpassing the estimate of 3.8%, the US Labor Department reported on Tuesday. With the exception of food and energy, this is the largest shift the indicator has seen since September 1991. Higher inflation was reflected by the surge in the consumer price index, or CPI, which saw its biggest increase since the 2008 global financial crisis. Also on rt.co

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