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nelson93
2021-06-10

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Consumer prices jump 5% in May, fastest pace since the summer of 2008

Consumer prices for May accelerated at their fastest pace in nearly 13 years as inflation pressures

Consumer prices jump 5% in May, fastest pace since the summer of 2008

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Economists surveyed by Dow Jones had been expecting a gain of 4.7%.</p>\n<p>The reading represented the biggest CPI gain since the 5.3% increase in August 2008, just before the worst of the financial crisis sent the U.S. spiraling into the worst recession it had seen since the Great Depression.</p>\n<p>A separate gauge that excludes volatile food and energy prices increased 3.8%, vs the Dow Jones estimate of 3.5% for so-called core inflation.</p>\n<p>Another report released Thursday showed that jobless claims for the week ended June 5 came in at 376,000. The estimate was 370,000. 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