Key inflation measure hits highest level since 1992

Inflation rose 5% within the 12-months ending in May, the Bureau of Labor Statistics reported Thursday. That was a quicker tempo than economists had predicted and the biggest jump since August 2008.

Stripping out meals and vitality prices, which are usually extra risky, inflation stood at 3.8% over that 12- month interval. It was the largest improve in so-called core inflation since June 1992.

In the month of May alone, costs rose 0.6% on a seasonally adjusted foundation, barely lower than in April. Core inflation, excluding meals and vitality costs, stood at 0.7%, down from 0.9% in April.

This is a growing story. It will likely be up to date

Leave a Reply

Your email address will not be published. Required fields are marked *