Sunday, May 28, 2023
  • Login
CEO North America
  • Home
  • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
    • Environment
  • Opinion
  • News
  • Multimedia
No Result
View All Result
  • Home
  • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
    • Environment
  • Opinion
  • News
  • Multimedia
No Result
View All Result
CEO North America
No Result
View All Result

Inflation Rose 8.6% in May, Hits a New 40-Year High

in News
Inflation rose 8. 6% in may, hits a new 40-year high
Share on LinkedinShare on WhatsApp

Raising inflation hit a new four-decade high in the U.S.

According to the Bureau of Labor Statistics, consumer prices surged 8.6% last month, faster than April’s year-on-year increase of 8.3% and the fastest increase since December 1981.

Excluding food and energy prices, the “core inflation” jumped 0.6% in May for the second straight month, and now sits 6% above from last year’s.

In May energy prices rose 3.9% from a month ago, sending the annual increase to 34.6%. Fuel oil posted a 16.9% monthly gain, sending the 12-month surge to 106.7%. Food costs also climbed another 1.2% in May, bringing the year-over-year gain to 10.1%.

Shelter costs, which account for about a one-third in the CPI, rose 0.6%, the fastest one-month gain since March 2004.

According to the report released Friday, prices jumped 1% from April to May, much faster than the 0.3% increase from March to April.

Just when analysts thought inflation peaked last March, Friday’s numbers seem to add fears that the U.S. economy is nearing a recession.

Under heavy pressure, the Federal Reserve has signaled that it will raise its key rate by a half-point next week and again in July to fight inflation. Now there are some questions that a third half-point hike will go for September.

The Fed’s goal to control inflation by raising interest rates will also have an impact on higher borrowing costs for both consumers and businesses.

Tags: Bureau of Labor StatisticsFederal Reserveinflation

Related Posts

Yellen warns on big economic repercussions in ukraine and beyond
News

US debt-ceiling deadline extended to June 5

The missing workers who are never coming back
News

Office REITs hit lowest level since 2009 amid remote work, tighter budgets

Cisco warns ai software could make phishing attacks harder to fend off
News

OpenAI raises $175m startup investment fund

Blackstone in talks to buy us regional banks’ assets
News

Blackstone in talks to buy US regional banks’ assets

- citi abandons banamex sale, plans ipo instead
News

Citi abandons Banamex sale, plans IPO instead

Whatsapp to add message-editing feature
News

WhatsApp to add message-editing feature

Allen & overy and shearman & sterling to merge, create global elite law firm
News

Allen & Overy and Shearman & Sterling to merge, create global elite law firm

Montana becomes first us state to ban tiktok; law likely to be challenged
News

TikTok files lawsuit to overturn Montana ban

Nasdaq’s adena friedman is leading the way to a new era
News

Courtside Group, Elephant Oil to launch IPOs

Morgan stanley penalizes employees for whatsapp breaches
News

Morgan Stanley CEO announces retirement

No Result
View All Result

Recent Posts

  • US debt-ceiling deadline extended to June 5
  • US regulators eye AI to protect consumers, workers
  • Office REITs hit lowest level since 2009 amid remote work, tighter budgets
  • Nvidia nears entry to $1-trillion club amid AI frenzy
  • Canada, Saudi Arabia restore diplomatic and trade ties

Recent Comments

    Archives

    Categories

    • Art & Culture
    • Business
    • CEO Interviews
    • CEO Life
    • Editor´s Choice
    • Entrepreneur
    • Environment
    • Food
    • Health
    • Highlights
    • Industry
    • Innovation
    • Issues
    • Management & Leadership
    • Multimedia
    • News
    • Opinion
    • PrimeZone
    • Printed Version
    • Travel
    • Uncategorized

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org

    • CONTACT
    • GENERAL ENQUIRIES
    • ADVERTISING
    • MEDIA KIT
    • DIRECTORY
    • TERMS AND CONDITIONS

    Editorials – stuart.james@ceo-na.com

    Advertising – media@ceo-na.com

    NEW YORK

    110 Wall St.,
    3rd Floor
    New York, NY.
    10005
    USA
    +1 212 432 5800

     

    MEXICO CITY

    Paseo de la Reforma 296,
    Floor 38
    Mexico City
    06600
    MEXICO

    • CONTACT
    • GENERAL ENQUIRIES
    • ADVERTISING
    • MEDIA KIT
    • DIRECTORY
    • TERMS AND CONDITIONS

    Editorials –
    stuart.james@ceo-na.com

    Editor-In-Chief –

    caroline.sposto@ceo-na.com

    Editorials – editorials@ceo-na.com

    Advertising –
    media@ceo-na.com

    NEW YORK

    110 Wall St.,
    3rd Floor
    New York, NY.
    10005
    USA
    +1 212 432 5800

    MEXICO CITY

    Paseo de la Reforma 296,
    Floor 38
    Mexico City
    06600
    MEXICO

    CEO North America © 2022 - Sitemap

    No Result
    View All Result
    • Home
    • Business
      • Entrepreneur
      • Industry
      • Innovation
      • Management & Leadership
    • CEO Interviews
    • CEO Life
      • Art & Culture
      • Food
      • Health
      • Travel
      • Environment
    • Opinion
    • News
    • Multimedia

    © 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Warning: array_sum() expects parameter 1 to be array, null given in /home/ceonacom/public_html/wp-content/plugins/jnews-social-share/class.jnews-social-background-process.php on line 111