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US inflation hit a new 40-year high last month of 8.6%

FILE - Customers shop at a grocery store in Mount Prospect, Ill., on April 1, 2022. 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, June 10, 2022. (AP Photo/Nam Y. Huh, File)

FILE - Gasoline prices are displayed at a gas station on Thursday, June 9, 2022, in Salt Lake City. 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, June 10, 2022. (AP Photo/Rick Bowmer, File)

FILE - Bags of Pistachios are displayed at a grocery store in Mount Prospect, Ill., on, April 1, 2022. 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, June 10, 2022. (AP Photo/Nam Y. Huh)

US inflation hit a new 40-year high last month of 8.6%