Inflation rises at fastest pace since 1981, pushed up by record gas prices
CNN
The pain of higher prices continues for US consumers.
Record gas prices drove inflation to 8.6% for the 12 months ending in May, higher than the pace in April, according to the latest Consumer Price Index, the government's basic inflation measure.
The reading for core CPI, which strips out volatile food and energy prices, posted a 6% increase over the same period, higher than the previous month's level. Both readings are among the biggest jumps in prices experienced by consumers since 1981.
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