Inflation in the United States stood at 5% in May compared to the same period last year, mainly driven by higher energy and used car prices, the government reported on Thursday.
These figures continue the trend seen since January, as the world's largest economy rebounds and prices rebound from the steep declines in the first weeks of the COVID-19 pandemic.
Excluding volatile food and energy goods, the "core" consumer price index (CPI) rose 3.8% in the past year, without seasonal adjustment, "the largest increase in 12 months since the period ending in June 1992." said the Department of Labor.
The CPI rose 0.6% last month, according to seasonally adjusted figures, less than in April, but above expectations. The basic CPI increased 0.7%.
Oil prices – which plummeted and even turned negative last year – have rebounded as the economy has reopened, with data showing a 56.2% increase compared to May 2020.
With information from AFP.
