US Inflation Reaches a New 40 Year High

US inflation has just reached a new high after 40 years. In the month of June the consumer prices rose 9.1%, shortly after they had risen 8.6% in May. This 9.1% jump is the largest 12 month increase since 1981.

The ongoing increase in prices has taken a huge toll on families, especially low income families where the cost of living is more than their paychecks. Economists are hoping that this spurt of inflation is coming to an end soon. Signs like decreasing gas and food prices are good signs that the economy will slowly be returning to normal.