Federal Reserve

Core Inflation Hits Highest Level in 30 Years

Excluding food and energy, consumer prices were 3.5 percent higher last month than they were in June 2020, the briskest pace of inflation since the summer of 1991 and an acceleration from a month ago.

US President Joe Biden takes off his face mask before speaking about Covid vaccinations in the East Room of the White House in Washington, DC, July 29, 2021. (Photo by SAUL LOEB / AFP) (Photo by SAUL LOEB/AFP via Getty Images)

Price Shock: Inflation Soars to 29-Year High

A key measure of inflation accelerated to a faster-than-expected 3.1 percent annual gain in April, the Commerce Department reported Friday. The last time the core personal consumption expenditures index hit 3.1 percent was in May of 1992, when George H.

US President Joe Biden visits the Sportrock Climbing Centers alongside its owner Lillian Chao-Quinlan (R), and Virginia Governor Ralph Northam, in Alexandria, Virginia on May 28, 2021. (Photo by MANDEL NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty Images)