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US consumer prices surge to new 40-year high of 9.1%
US consumer prices surge to new 40-year high of 9.1%
by  AFP

US inflation surged to a fresh peak of 9.1 percent in June, further squeezing American families and heaping pressure on President Joe Biden, whose ratings have taken a battering from the relentless rise in prices. But the Federal Reserve is likely to continue its aggressive interest rate increases as it tries to tamp down the price surge by cooling demand before inflation becomes entrenched.

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