News > US inflation unexpectedly accelerates to 40-year high of 8.6% 

US inflation unexpectedly accelerates to 40-year high of 8.6% 

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.