Inflation Hits Fresh Four-Decade High, According to Fed’s Preferred Measure

Inflation accelerated in June, measured by the Federal Reserve’s preferred gauge, driven by a jump in energy prices as well as broader-based increases.

Consumer prices rose 6.8% in June from a year earlier, up from 6.3% in May and April, as measured by the Commerce Department’s personal-consumption expenditures price index. The gain in June marked the sharpest rise since January 1982.

This post first appeared on wsj.com