Inflation In The Us Continues To Rise Rapidly Accelerating In May
The monthly rise in the consumer price index, published by the Bureau of Labor Statistics on Friday, was significantly higher than the 0.3% increase in April and above economists’ expectations for a 0.7% rise. The annual inflation rate increased to 8.6%, the highest level since December 1981. Shares fell sharply on Friday, with the S&P 500 falling 2.4% until mid-afternoon in New York and the Nasdaq Composite falling more than 3%....