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Key inflation measure rises at fastest pace since 1992

June 10, 2021. Summarized by summa-bot.

Compression ratio: 44.9%. 1 min read.

People walk through a shopping area in Manhattan on June 7, 2021 in New York City. (Photo by Angela Weiss / AFP) (Photo by ANGELA WEISS/AFP via Getty Images)

Consumer prices roared higher in May, rising at their fastest pace in decades.

In the month of May alone, prices rose 0. 6% on a seasonally adjusted basis, slightly less than in April.

Core inflation, excluding food and energy prices, stood at 0. 7%, down from 0. 9% in April.

Once again prices for used cars and trucks rose sharply, increasing 7. 3% in May and accounting for a third of of the overall May jump.

New car prices also rose in May, ticking up 1. 6%.

Energy prices — which contributed a lot to prior months' increases — were flat in May with gasoline prices falling and other energy items rising.

Prices in the "food away from home" category rose 0. 6%, the fastest pace since September.

by summa-bot

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