Business News

Inflation rises significantly in May, up to 8.6% year over year

Jose Luis Pelaez Inc/Getty Images

(WASHINGTON) — Inflation reaccelerated in May, rising at the the highest level seen in four decades, according to data released by the federal government on Friday.

The consumer price index, or CPI, stood at 8.6% year over year in May, a significant increase from 8.3% the month prior.

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