6/10, 2:31 PM (Source: TeleTrader)
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US inflation reaches 5% in May, nearing 13-year high

The Consumer Price Index (CPI) in the United States soared to a near-13-year high in May, the US Bureau of Labor Statistics reported on Thursday. The CPI for all items increased 5% on a yearly basis, higher than expected and up from 4.2% in April. The figure was the largest 12-month increase since a 5.4% increase for the period ending August 2008.

The index for all items less food and energy rose 0.7% in May month-on-month. Over the last 12 months, it was up 3.8%, the largest 12-month increase since the period ending June 1992. The energy index rose 28.5% over the last 12-months, and the food index increased 2.2%.

Breaking the News / DJ