Today: Saturday, 20 August 2022 year

Inflation in the US in May accelerated to the highest since December 1981

Inflation in the US in May accelerated to the highest since December 1981

Consumer prices (CPI index) in the US rose by 8.6% in May compared to the same month last year, according to data from the country’s Department of Labor.

This is the highest growth rate since December 1981. Thus, inflation has accelerated compared to 8.3% in April.


Analysts polled by Bloomberg had expected consumer prices to rise 8.3% on average.


Better-than-expected data indicate that the US Federal Reserve may need to continue its cycle of aggressive rate hikes to bring price increases under control, writes MarketWatch.


The US Central Bank closely monitors inflation data, which is one of the important factors in making decisions regarding monetary policy. The inflation target for the Fed is 2%.