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The much-expected wave of inflation amid an unprecedented post-pandemic economic reopening is here, but how long it will stay with us is an open question.
The Bureau of Labor Statistics reported Tuesday that the Consumer Price Index, which measures changes in the prices of a basket of common goods and services, rose 0.9% between May and June. That was far higher than Bloomberg’s consensus economic forecasts of 0.5%, and according to BLS, was the largest one-month jump in prices since June 2008.
The price index was 5.4% higher than it was in June 2020, marking details ⇒
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