The US economy’s rebound from the pandemic is driving the biggest surge in inflation in nearly 13 years, with consumer prices rising in May by 5% from a year ago. The Labor Department said last month’s increase in the consumer-price index was the largest since August 2008, when the reading rose 5.4%.

World Business Watch: US inflation highest in 13 years as prices surge 5% in May

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World Business Watch: US inflation highest in 13 years as prices surge 5% in May