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The US consumer price index jumps 5% in May, and records the fastest pace since the summer of 2008
The US consumer price index for May rose at the fastest pace in nearly 13 years as inflation pressures continued to grow in the US economy.
The Consumer Price Index, which represents a basket that includes food, energy, groceries, housing costs and sales across a range of goods, rose 5% from a year ago. Economists polled by Dow Jones had expected a rise of 4.7%.
The reading represents the largest rise in the consumer price index since the 5.3% increase in August 2008, before the biggest financial crisis pushed the United States into its worst recession since the Great Depression.
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