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Published: Jul 13, 2022 5 min read
A shopper looks at a meat display at a Supermarket
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Inflation in the U.S. has notched — say it with us — another four-decade high.

Consumer prices increased a staggering 9.1% in the 12 months ending in June, which is the largest increase since November 1981, according to new data from the Labor Department. This past May, the inflation rate was 8.6%; just since then, prices have risen 1.3%.

With each passing month, economists and consumers alike have been hoping that inflation will peak. The latest numbers, released by the U.S. Bureau of Labor Statistics Wednesday, offer no such relief. Overall, prices are climbing higher than expected, blowing past predictions that June's inflation rate would rise only slightly from May.