US May inflation sees biggest 12-month inflation spike since 2008: Decoding the key highlights
The US economy’s rebound from the pandemic has pushed its May inflation reading to a 12-year high. The American consumers absorbed another surge in prices in May — a 0.6 percent increase over April and 5 percent over the past year, the biggest 12-month inflation spike since 2008. Reason: Central bankers slated…