INFLATION HITS NEW 40-YEAR HIGH, UP 9.1% IN LAST YEAR

Key Points:

  • The Consumer Price Index (CPI) increased 1.3% in June after rising 1.0% in May.
  • CPI increased 9.1% from a year ago, the highest reading since the period ending November 1981.
  • Prices remained above 5% for the thirteenth straight month.
  • The core CPI, which excludes food and energy, rose 0.7% in June and is up 5.9% from the previous year.
  • The energy index is up 41.6% and the food index is up 10.4% from the previous year.
  • The energy index increase of 41.6% is the largest increase since April 1980.
  • The food index increase of 10.1% is the first increase of 10% or more since February 1981.
  • The Right Facts will continue to monitor CPI.
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