Stocks plunge as inflation soars at fastest pace in 4 decades

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May surge in consumer prices raises odds that the Fed will continue to sharply hike interest rates.

As of early Friday, the AAA auto club reported the national average for a gallon of regular gas in the United States hit $4.99. In California, the average price per gallon is $6.42, AAA estimated.

While consumer spending grew at a 3.1% annual pace from January through March, this trend could soon reverse as surging prices continue strain U.S. households, economists said. Another revealing signal, Adams of Comerica noted, is the cost of haircuts, which rose 0.5% May and are up more than 6% this year.

 

आपकी टिप्पणी के लिए धन्यवाद। आपकी टिप्पणी समीक्षा के बाद प्रकाशित की जाएगी।

Lgb

I believe Biden’s executive orders and policies are the real cause for this.

हमने इस समाचार को संक्षेप में प्रस्तुत किया है ताकि आप इसे तुरंत पढ़ सकें। यदि आप समाचार में रुचि रखते हैं, तो आप पूरा पाठ यहां पढ़ सकते हैं। और पढो:

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इंडिया ताज़ा खबर, इंडिया मुख्य बातें