Inflation in US hits 8.6% in May, highest in 40 years

Amid rising prices of gas, food and other goods, inflation in the US hit a 40-year high of 8.6% in May. On a month-to-month basis, prices jumped 1% from April to May, faster than the 0.3% increase from March to April. Food prices were up more than 10% last month compared to May 2021, while energy surged more than 34%.