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Inflation in US hits 8.6% in May, highest in 40 years
short by Ridham Gambhir / on Saturday, 11 June, 2022
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%.