US inflation hits 40-year high of 9.1% as recession fears loom
US inflation hits 40-year high of 9.1% as recession fears loom
US inflation soared 9.1% in June from a year ago (Picture: AFP)
Inflation in the US reached a more than four-decade high in June, as fears of a recession loom.
The consumer price index (CPI), which is a broad measurement of goods and services linked to the cost of living, jumped 9.1% from a year ago, according to data released by the Bureau of Labor Statistics on Wednesday.
That exceeded the Dow…