Inflation climbed to a new 40-year high in June

Gas prices U.S.
(Image credit: Justin Sullivan/Getty Images)

Inflation jumped 9.1 percent from a year ago in June, its fastest pace in roughly four decades, the Labor Department reported Wednesday.

Economists had predicted an 8.8 percent rise, CNN reports. June's rate also surpassed that of May, when the consumer price index — which measures the price of goods and services — climbed 8.6 percent annually.

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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.