U.S. Inflation Hit A New 40-Year High Last Month Of 8.6%

Watch VideoThe costs of gas, food and other necessities jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs.

Consumer prices surged 8.6% last month from 12 months earlier, faster than April's year-over-year surge of 8.3%, the Labor Department said Friday.

On...