In USA the Consumer Price Index, which measures prices of a batch of common household products, rose 0.6 percent last month, with much of the increase coming from high fuel costs.
Food prices rose again in May as Americans paid 5 percent more for foods and beverages than a year ago.
The high cost of oil pushed up prices for several other products. Many businesses, squeezed by higher shipping and production costs, sought to pass those costs onto their customers in May.
Minus the cost of food and gasoline, inflation was 0.2 percent for the month.
The growing consensus is that Federal Reserve could raise interest rates by the end of the year. Signals from the head of the central banker are also in same line, that focus is shifting from supporting grwoth to fighting inflation
Food prices rose again in May as Americans paid 5 percent more for foods and beverages than a year ago.
The high cost of oil pushed up prices for several other products. Many businesses, squeezed by higher shipping and production costs, sought to pass those costs onto their customers in May.
Minus the cost of food and gasoline, inflation was 0.2 percent for the month.
The growing consensus is that Federal Reserve could raise interest rates by the end of the year. Signals from the head of the central banker are also in same line, that focus is shifting from supporting grwoth to fighting inflation
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