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Evening Standard
Evening Standard
Business
Simon Hunt and Jonathan Prynn

US inflation hits 40-year high

United States Inflation US Federal Reserve

The announcement puts added pressure on the US Federal Reserve to hike interests rates when it meets later this month.

(Picture: AFP/Getty Images)

US inflation data soared past analyst expectations to hit 9.1% in June according to figures released by the US department of Labor Statistics.

Gasoline, shelter and food were among the largest contributers to the rise, which marked the highest annual gain since November 1981, and the highest monthly gain since 2005.

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