US records 9.1% inflation in June, highest since 1981
TRT World says US inflation has surged to a new four-decade high in June because of rising prices for gas, food and rent, squeezing household budgets and pressuring the Federal Reserve to raise interest rates aggressively — trends that raise the risk of a recession.
The government’s consumer price index soared 9.1 percent over the past year, the highest yearly increase since 1981, with nearly half of the increase due to higher energy costs, government data showed on Wednesday.
Lower-income and Black and Hispanic Americans have been hit especially hard since a disproportionate share of their income goes toward essentials such as transportation, housing and food.
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