News > US inflation unexpectedly accelerates to 40-year high of 8.6%
US inflation unexpectedly accelerates to 40-year high of 8.6%
LiveMint | 11/06/2022 09:28 AM | Click to read full article
US inflation hit a fresh 40-year high in May, unexpectedly accelerating in a broad advance that pressures the Federal Reserve to extend an aggressive series of interest-rate hikes and adds to political problems for the White House and Democrats.
The widely followed inflation gauge rose 1% from a month earlier, topping all estimates. Shelter, food and gas were the largest contributors.