US inflation at the highest level since the financial crisis

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Published June 10, 2021 at 8:24 pm

Economics. The U.S. consumer price index rose 5 percent in May from the same month in 2020. This is the highest figure since August 2008, just before the U.S. economy ended up in the worst recession since the Great Depression, CNBC reports.

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The CPI increase is higher than the market had expected. In April, the figure was 4.2 per cent.

The core CPI increased by as much as 0.7 per cent compared with expectations of 0.4 per cent.

Inflation is driven by the increase for second-hand cars, which rose 7.3 percent in May.