Inflation Number Surges 8.6% Year-o-Year In May, Surpasses Expectations

The Consumer Price Index (CPI) increased 1% M/M in May on a seasonally adjusted basis versus the consensus of 0.7%. In April it rose 0.3%.
Over the last 12 months, CPI increased 8.6% before adjustment, versus the consensus of 8.2%. This is the most significant 12-month increase since the period ending December 1981.
Core CPI rose 0.6% in May versus a consensus of 0.5%.
Over the last 12 months, Core CPI increased 6% above the consensus of 5.8%.
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