The numbers: The cost of living surged again in May and drove the pace of inflation to a 13-year high of 5%, reflecting a broad increase in prices confronting Americans as the economy recovers. The consumer price index jumped 0.6% last month to mark the fourth large gain in a […]
Prices
U.S. Inflation Is Highest in 13 Years as Prices Surge 5%
The U.S. economy’s rebound from the pandemic is driving the biggest surge in inflation in nearly 13 years, with consumer prices rising in May by 5% from a year ago. The Labor Department said last month’s increase in the consumer-price index was the largest since August 2008, when the reading […]