Spike in US inflation fuels debate over economic overheating – MENAFN.COM

  • Date: 13-Jun-2021
  • Source: MENAFN
  • Sector:Economy
  • Country:Gulf
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Spike in US inflation fuels debate over economic overheating – MENAFN.COM

(MENAFN - AFP)

US consumer prices spiked last month, with the inflation rate accelerating to the fastest pace in over a decade, adding to fears the American economic rebound from the Covid-19 pandemic is overheating.

The consumer price index (CPI) jumped 5.0 percent for the 12 months ending May, the Labor Department reported.