Last month US gas prices at the pump hit a record high of more than $5 per gallon.
Washington:
US consumer price inflation rose 9.1 percent over the past 12 months to June, the fastest increase since November 1981, according to government data released Wednesday.
The Consumer Price Index jumped 1.3 percent in June, driven by record-high gasoline prices, the Labor Department reported.
However, excluding volatile food and energy prices, the “main” CPI grew by 5.9 percent over the previous year, which is slower than the pace in May, according to the data. But compared to May, the rate rose by 0.7 percent, slightly higher than in the previous two months.
Energy contributed half of the monthly increase, as gasoline rose 11.2 percent in June and 59.9 percent in the previous 12 months.
The war in Ukraine has propelled global energy and food prices, and last month US gas prices at the pump hit a record high of more than $5 a gallon. However, the prices have moderated in recent weeks.
Food and housing prices also rose in June, as did car prices, although the rate has stabilized or slowed over the past month, the report said.
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