Inflation, Interest Rate & Economic Updates: US Inflation Rockets To 40-Year High
Headline from Forbes
14 July: Pressure Mounts On Federal Reserve To Tackle Rising Prices US inflation accelerated to a new 40-year high in the year to June 2022, according t
Forbes's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
Inflation surged to a new pandemic-era peak in June, with U.S. consumer prices jumping by 9.1% year-over-year, according to fresh data released Wednesday by the Bureau of Labor Statistics.
U.S. inflation likely reached a new 40-year high in June, driven up by a spike in gas costs, more expensive food and rent, and pricier cars and hotel rooms.
WASHINGTON — U.S. inflation reached a 40-year high for June as prices for gas, food and rent increased, according to the latest Consumer Price Index from the Bureau of Labor Statistics on Wednesday. Consumer prices for all items increased 9.
U.S. inflation likely reached a new 40-year high in June, driven up by a spike in gas costs, more expensive food and rent, and pricier cars and hotel rooms. A
In the month of June inflation hit 9.1%. That the highest number in more than 40 years. Americans are right to ask how this happened and who is to blame.
WASHINGTON — Surging prices for gas, food and rent catapulted U.S. inflation to a new four-decade peak in June, further pressuring households and likely sealing the case for another large interest rate hike by the Federal Reserve, with higher borrowing costs to follow. Consumer prices soared 9.
U.S. inflation reached a 40-year high for June as prices for gas, food and rent increased, according to the latest Consumer Price Index from the Bureau of Labor Statistics on Wednesday.
U.S. inflation surged to a new four-decade high in June because of rising prices for gas, food and rent, squeezing household budgets and pressuring the Federal Reserve to raise interest rates aggressively -- trends that raise the risk of a recession.
Inflation’s relentless surge didn’t merely persist in June. It accelerated. For the 12 months ending in June, the government’s consumer price index rocketed 9.1%, the fastest year-over-year jump since 1981.
U.S. inflation is showing no signs of slowing down as the costs of goods and services rose 9.1% in June, the highest uptick since 1981 according to the latest U.S. Department of Labor report released Wednesday morning.
A U.S. government report Wednesday is expected to show that consumer prices soared 8.8% in June compared with a year earlier, according to data provided by FactSet.
Consumer inflation accelerated again in June, hitting another 40-year high as the cost of everyday goods like food, energy, rent and used cars soared higher.
The newly released consumer price index for June shows that inflation was up 9.1% since June 2021, staying at its most rapid rate in over 40 years. Over the last 12 months, fuel and oil saw a 98% increase and energy increased by 41.6%, a main contributor to most rising prices of goods.
By Lucy Bayly and Alicia Wallace, CNN Business Inflation surged to a new pandemic-era peak in June, with US consumer prices jumping by 9.1% year-over-year, according to fresh data released Wednesday by the Bureau of Labor Statistics.
