Hot US inflation data injects some life into markets

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Investors who have been craving for some volatility this afternoon had their wishes fulfilled following the May inflation report that showed prices rising in the United States at their fastest rate since 2008.

The consumer price index (CPI) jumped to 5% year-on-year, up from 4.2% in April and topping the 4.7% forecast. Core inflation, which strips out volatile items like food and energy rose 3.8% annually, its biggest increase since 1998. This report will most likely fuel concerns over rising inflationary pressures in the United States as the economy bounces back from the pandemic. While… Read More:

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