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Inflation in the United States

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

Most significant contributors were shelter, food, and gas.

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

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

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

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

Grocery prices jumped by 11.9 per cent annually

Americans' confidence is being harmed by decades of high inflation, which is lagging wage growth.