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US inflation at new 40-year high of 9.1%

Washington, July 13

Surging prices for gas, food and rent catapulted the US inflation to a new four-decade peak of 9.1% in June from 8.6% in May — the biggest yearly increase since 1981 — further pressuring households and likely sealing the case for another large interest rate hike by the Federal Reserve, with higher borrowing costs to follow. — AP

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