Inflation in the US in May landed at 8.6 percent year-on-year, according to statistics from the US Department of Labor. This can be compared with the average forecast of 8.3 percent, according to a compilation from Bloomberg. In April, inflation was 8.3 per cent year-on-year.
Compared with the previous month, consumer prices rose by 1 per cent in May, compared with 0.3 per cent in April.