Energy and food drive US inflation to highest for 40 years
Rising energy and food costs pushed inflation to 8.6% in May, the highest rate in more than 40 years. …
Analysts had hoped that the moves were starting to work to cool economic activity, easing the price pressures. But the conflict between Russia and Ukraine, which has driven up the price of oil and commodities like wheat as it disrupts exports from the two countries, has made tackling the problem more difficult.
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