(TheRedAlertNews.com) – BREAKING NOW: Coming in far hotter than expected and proving the financial pain American consumers feel is real, inflation skyrocketed 9.1% in June, far more than predicted.
As CNBC recounts in, “Inflation rose 9.1% in June, even more than expected, as price pressures intensify“:
“Shoppers paid sharply higher prices for a variety of goods in June as inflation kept its hold on a slowing U.S. economy, the Bureau of Labor Statistics reported Wednesday.
“The consumer price index, a broad measure of everyday goods and services, soared 9.1% from a year ago, above the 8.8% Dow Jones estimate. That marked another month of the fastest pace for inflation going back to December 1981.” [emphasis added]
And the pain is most significant in the all-important energy sector:
“Energy prices surged 7.5% on the month and were up 41.6% on a 12-month basis…
“Much of inflation rise came from gasoline prices, which increased 11.2% on the month and just shy of 60% for the 12-month period. Electricity costs rose 1.7% and 13.7%, respectively.” [emphasis added]
According to experts, there is no end in sight to the inflation that is decimating working Americans’ wallets.
THIS IS A BREAKING NEWS REPORT FROM RED ALERT NEWS.
Inflation rose 9.1% in June, even more than expected, as price pressures intensify https://t.co/70cWLePrxs
— CNBC (@CNBC) July 13, 2022