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US Consumer Prices Index rises solidly in May as inflation spikes to 13-year peak

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Financial World
Financial World
 11 days ago
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In context of a robust reopening of US economy coupled with a modest recovery in labour markets despite a supply restrain, the US Consumer Prices Index (CPI) that tracks the changes in prices of goods and services which consumers are laying off on an adjusted basis, rose solidly in May following a 0.8 per cent increase in April, as US inflation based on CPI had witnessed its biggest annual increase in roughly 13 years, US Commerce Department said in a report.