July 13, 2022
U.S. inflation increases 9.1% in June
Photo | ERIC BEDNER / JOURNAL INQUIRER
Matt Allegretti of Manchester fills up at the Big Y Express on Tolland Turnpike as Connecticut sees historic high gas prices.
By Greg Bordonaro | Hartford Business Journal
Inflation during the month of June hit a 40-year high of 9.1% compared to a year earlier, according to the U.S. Bureau of Labor Statistics.
The significant rise in the consumer price index, which measures the change in prices paid by consumers for goods and services, was driven by higher costs for energy, gasoline, housing and food, BLS said. The current average price of gas in Connecticut is $4.601 for regular and $5.837 for diesel fuel, according to AAA.
It was the biggest year-over-year increase in CPI since 1981, according to the Associated Press.
Energy prices rose 7.5% in the month and contributed nearly half of the increase, with gasoline prices rising 11.2%. Food prices rose 1% in June, BLS said.
WBJ Web Partners
Most Recent
Most Recent
0 Comments