The Wall Street Journal reports that "U.S. consumer inflation rose last month from the year before at the highest rate in more than four decades, as prices climbed throughout the economy.
"The consumer-price index rose 9.1% in the 12 months ended in June, the fastest pace since November 1981, the Labor Department said on Wednesday. The June increase also eclipsed May’s 8.6% rate, which led Federal Reserve officials to shift to a faster pace of benchmark interest-rate increases in its campaign to bring down inflation."
Bloomberg reports that "the 'Food at Home' category jumped even more, rising to 12.2% from the same time last year … According to the latest data from Datasembly’s Grocery Price Index, baking goods jumped 7.6%, snacks such as cookies and chips increased 7.5%, and dairy and eggs were up 6.9% across the US, the research firm said Tuesday. In some parts of country, grocery prices jumped even more."