Tag: Inflation

Experts had forecast U.S. inflation of 8.8% for June 2022. In fact, however, the figure was significantly higher, thanks to higher gasoline prices. U.S. consumer inflation accelerated to 9.1% in June, the highest number in more than four decades, adding pressure on the Federal Reserve to act more aggressively to raise the interest rates. The consumer-price index’s advance for the 12 months ended in June was the fastest pace since November 1981.