Inflation in the United States

Inflation in the United States has suddenly accelerated to a 40-year high of 8.6%.

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Most significant contributors were shelter, food, and gas.

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Food and energy components, climbed 0.6 per cent from the previous month and 6% from a year ago

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Expected to remain high in the next months as a result of record fuel costs and geopolitical circumstances

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Energy prices rose 34.6 per cent from a year ago, the biggest since 2005

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Gas prices have risen to new highs so far in June 2022

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Grocery prices jumped by 11.9 per cent annually