BREAKING: Inflation hit a 40-year record in June, with consumer prices increasing 9.1% over the last 12 months.
That’s up from the previous reading, when prices rose by 8.6% for the year ended in May; andGov. Tom Wolf: Pennsylvania Will Fund 3 New State Parks, Locations Not Determined Yet
Much of the June increase was driven by a jump in gasoline prices. Americans faced record-high gas prices last month, with the national average topping $5 a gallon across the country.14-Year-Old Charged As Adult With 3rd-Degree Murder In Connection To Fatal Beating Of 73-Year-Old Man: Police Stripping out food and energy costs, which tend to represent transitory fluctuations, core CPI prices rose by 0.7% over the same period and by 5.9% for the 12-month period ended in June.
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Surging gas prices likely drove US inflation to 40-year highU.S. inflation likely reached a new 40-year high in June, driven up by a spike in gas costs, more expensive food and rent, and pricier cars and hotel rooms
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