Inflation in May hits highest level in more than 4 decades

Grocery store shopper.
(Image credit: David Paul Morris/Bloomberg via Getty Images)

U.S. inflation increased 8.6 percent from a year ago in May, the fastest increase since December 1981, the Labor Department reported Friday.

The May reading of the Consumer Price Index — which measures what consumers pay for goods and services — was also up from that of April, which saw a slight moderation from March.

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Brigid Kennedy

Brigid Kennedy worked at The Week from 2021 to 2023 as a staff writer, junior editor and then story editor, with an interest in U.S. politics, the economy and the music industry.