“The annual inflation rate in the US surged to 9.1% in June, the highest since November 1981, and above market expectations of 8.8% pushed once again by a surge in gasoline and food costs. Energy costs rose 41.6%, the most since April 1980, and food prices jumped 10.4%, the most since February 1981. Core CPI, which excludes food and energy increased 5.9%, slightly below 6% in May, but above forecasts of 5.7%.”

Originally published here by Trading Economics on 13 July 2022.