Inflation Spiked 9.1% In June—Hitting New 40-Year High As Price Surge Fuels Recession Fears

Topline As rapid inflation fuels growing recession fears, new data showed consumer prices rose 9.1% in the 12 months ending in June, hitting a worse-than-expected 40-year high after an unprecedented surge in gas prices. Key Facts Overall prices rose 1.3% from May—surpassing the 1.1% economists were expecting and much higher than the previous month’s increase…

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