Inflation rises to 40-year-high as CPI climbs 8.6 percent in May
U.S. consumer prices accelerated in May at the highest rate since 1981, while Americans are confronted with an increase in the price of gasoline food, shelter, and even food, data showed Friday.
The Bureau of Labor Statistics' May Consumer Price Index (CPI) recorded a year-over year increase of 8.6 percent last month, up from 8.3 percent in April