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Inflation Reaches 9.1%, the Highest in 40 Years

La inflación llega al 9,1 %: el valor más alto en 40 años

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[Leer en español]

U.S. inflation hit a new 40-year high in June at 9.1% year-over-year, according to data released Wednesday by the Bureau of Labor Statistics (BLS).

The monthly rise in consumer prices was 1.3%.

The rise in gasoline and food prices was what most influenced this new inflation escalation.

Thus, the spike in energy prices was 7.5% in one month and contributed to almost half of the monthly increase, and in the specific case of gasoline, it rose 11.2% in the last month. The rise in food prices was 1%.

In the last twelve months, energy prices have increased 41.6%, the highest increase since April 1980.

Food prices have risen 10.4% in one year, the highest boost since February 1981.

The year-on-year rate of core inflation, which measures price increases excluding energy and food, was 5.9%.

The high inflation that has been affecting the U.S. economy for months has led the Federal Reserve to successive interest rate hikes, which are expected to continue in the future, in order to contain the rise in prices.

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