Heating up: US inflation comes in hot again in May

US CPI up by 3.8% year-on-year

clock • 4 min read
Paul Eitelman of Russell Investments

Paul Eitelman of Russell Investments

Last week, the US Labor Department reported that its core consumer price index (CPI) for the month of May increased by a whopping 3.8% on a year-on-year basis.

This marks the second month in a row where US inflation has handily beaten expectations and the numbers are frankly quite big. The sequential inflation readings in both April and May were some of the strongest...

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