U.S. Inflation Rate Reaches 8.6% in May a 40-Year High
The U.S. inflation rate reached 8.6 percent in May, its highest level since December 1981, the U.S. Department of Labor (DOL) reported on June 10, putting pressure on employers to raise wages to keep pace. An unusually tight U.S. labor market, combined with spiking gas and food prices, are to blame for creating pricing pressures