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
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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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