Surging prices catapulted US inflation to a new 4-decade peak of 9.1% in June, further pressuring households and likely sealing the case for another large interest rate hike.
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Surging gas prices likely drove US inflation to 40-year highU.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
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Surging Gas Prices Likely Drove US Inflation to 40-Year HighU.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 government report Wednesday is expected to show that consumer prices soared 8.8% in June compared with a year earlier, according to data provide FactSet. That would be an increase from 8.6% in May and the biggest yearly rise since December 1981. Inflation at that level would make it highly likely the Federal Reserve will implement another large interest rate increase at its next meeting in two weeks. Higher rates are intended to cool consumer and business spending and slow the economy and inflation.
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Surging gas prices likely drove US inflation to new 40-year highA 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.
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US CPI inflation climbed 9.1% in June, highest since November 1981Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
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U.S. stocks open sharply lower after June CPI data showed inflation was higher than expectedU.S. stocks opened sharply lower after the consumer-price index showed inflation rose in June more than expected, with the annual rate climbing to a nearly...
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US: Headline CPI to hit new high in June, but core prices to decline – TD SecuritiesOn Wednesday, June inflation data is due in the US. The CPI is expected to rise to a new post-COVID high. According to analysts from TD Securities, th
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