US inflation accelerates to 9.1pc, exceeding forecast again

later this month.

The consumer price index rose 9.1 per cent from a year earlier, the largest gain since the end of 1981, Labor Department data showed Wednesday. The widely followed inflation gauge increased 1.3 per cent from a month earlier, the most since 2005, reflecting higher gasoline, shelter and food costs. Economists projected a 1.1 per cent rise from May and an 8.8 per cent year-over-year increase, based on the Bloomberg survey medians.

The so-called core CPI, which strips out the more volatile food and energy components, advanced 0.7 per cent from the prior month and 5.9 per cent from a year ago, above forecasts.

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