U.S. Inflation Continues Upward Trend

The U.S. inflation continued to climb in May as prices for used cars and energy increased.

Consumer prices jumped five percent in the 12 months to the end of May, up from 4.2% percent the month before.

The recent figures from the U.S. Labor Department show the biggest year-on-year increase since August 2008.

Many financial analysts have expressed the view that the rising prices could prompt the U.S. Central Bank, the Federal Reserve to push up interest rates.

However, some have speculated that the inflation could be rising because of temporary factors such as supply bottlenecks.

Readers Bureau, Contributor

Edited by Jesus Chan

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