US inflation hits 40-year high, putting pressure on Fed and Biden 

US inflation hits 40-year high in May 

This is a sign that rate pressure is increasing in the economy. 

This will in all likelihood lead the Federal Reserve to aggressively increase interest rates. 

will prompt the sequence to lengthen and the White House 

and would provide political trouble for the Democrats. 

Labor Department facts confirmed Friday that a broad-based 

The Patron Rate Index in Advance rose 8.6% from a year earlier. 

The widely viewed inflation gauge rose 1% from a month ago, 

Which was on top of all estimates. of shelter, food and petrol 

The biggest contribution has been 

The so-called core CPI, which is an additional risk-averse 

Removes food and electrical components, 

0.6% from the previous month and 6% from a year ago, was also above forecasts.