The annual growth of consumer prices in the United States reached a new record high of 8.5% before seasonal adjustment, according to a report published by the Bureau of Labor Statistics on Tuesday. The monthly inflation hit market estimates at 1.2%.
The largest contributors to inflation were increases in gasoline (18.3%), shelter (1.5%) and food prices (1%). The annual inflation reached the highest level since the period ending December 1981, with energy prices expanding by an additional 11% last month.
