Wall Street

Inflation Roars Back To 1981 Levels on Record Gas Prices: Stocks Slump

Published by
The Street

By Martin Baccardax Record high gas prices and surging energy costs lifted U.S. inflation back to the highest levels in four decades last month, Commerce Department data indicated Friday. Updated at 8:49 am EST U.S. inflation accelerated again last month, data from the Bureau of Labor Statistics indicated Friday, snuffing out bets that consumer price pressures are starting to peak in the world’s biggest economy. The headline consumer price index for the month of May was estimated to have risen 8.6% from last year, up from the 8.3% pace recorded in April and well ahead of the Street consensus f…

Read More

Share this Story
Load More Related Articles
Load More In Wall Street