U.S. inflation continues to jump higher hitting levels not seen in 40 years. The U.S. Labor Department’s Consumer Price Index jumped 9.1 percent in June, up from 8.6 percent in May. June’s increase was led by an 11.2 percentage increase in gasoline prices, now up 60 percent year-over-year. Food prices increased one percent in June, 12 percent higher than last year. Housing costs increased 5.6 percent in June, the largest year-over-year increase since 1991.
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