Business
Inflation in the United States reached 8.6 per cent in May
US consumer inflation reached its highest level in more than four decades in May, when rising energy and food costs pushed prices higher, with little indication of when the upward trend could ease.
The Ministry of Labor said on Friday that the consumer price index increased by 8.6% in May from the same month a year ago, marking its fastest pace since December 1981. It was also up from the April CPI reading, which was slightly below the previous 40- the annual high reached in March. The CPI measures what consumers pay for goods and services.
