US inflation is accelerating again ...Middle East

Quartz - Economy
US inflation is accelerating again
source : Quartz ( Middle East ) () 30
Inflation’s decline isn’t going to be a steady descent.The yearly rate of inflation in the US was back up to 8.6% in May—higher than forecast and ahead of the April reading of 8.3%—as prices increased by 1% from the previous month. The jump was driven by energy, food, and housing prices, which put inflation on its fastest pace in 40 years.The core consumer price index, which strips out volatile parts like food and energy, rose 0.6%. As food and gasoline prices remain persistently high, they’re making other goods and services in the core measure much more expensive, said KPMG senior economist Tim Mahedy.Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s

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