U.S. Inflation Reached 40-Year High Of 9.1% In June

Watch VideoSurging prices for gas, food and rent catapulted U.S. inflation to a new four-decade peak in June, further pressuring households and likely sealing the case for another large interest rate hike by the Federal Reserve, with higher borrowing costs to follow.

Consumer prices soared 9.1% compared with a year earlier,...