U.S. Core CPI Soars To 3.8% YoY: Highest Since 1992...
U.S. consumer price inflation increased at the fastest pace in more than a decade again last month, data from the Bureau of Labor Statistics indicated Thursday, with hotter-than-expected headline readings that could challenge the Federal Reserve's low-rate stance as the world's biggest economy continues its post-pandemic recovery.
Headline CPI for the month of May was estimated to have risen 5% from last year, and 0.6% when compared to the April reading, with both tallies coming in well ahead of Wall Street forecasts. So-called core inflation, which strips-out volatile components such as food and energy prices, rose 0.7% on the month and 3.8% on the year, the report noted, the highest since 1992...
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