UNITED STATES consumer prices jumped more than expected in May, up 5.4% on a year-on-year (y-o-y) basis, the highest since the summer of 2008, when oil prices were skyrocketing.
Excluding food and energy, core consumer prices rose 4.5% y-o-y, the highest pace since 1992. A third of the increase was due to a sharp 7.3% rise in used car and truck prices.
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