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