US prices rose by 5.6% in the year to July, the fastest inflation rate for more than 17 years, figures show.
The rate of inflation was much greater than economists had predicted, driven higher by the 30% increase in energy prices during the period.
Food costs were 6% higher than a year earlier, the figures showed.
The price rises are squeezing consumers further. Average weekly earnings fell by 3.1% in July compared with a year earlier, the US economic growth stays positive ...
US retail sales in surprise climb ...
German women paid 22% less than men ...
UK home prices 'fell 2.4% in May' ...
Failure not an option, Ban tells food crisis summit ...
EU Nations Commit to Increase Aid to Beat Food Crisis ... Labor Department said.
(BBC)
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