Stock Market Today: Dow Sinks 880 Points After Inflation Shocker
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Speculation that inflation might have peaked earlier this year died abruptly with this morning's release of the Labor Department's latest consumer price index (CPI). And what the data showed was that prices were still rising last month.

Specifically, the CPI surged 8.6% year-over-year in May, the fastest pace since December 1981. The sharp rise in consumer inflation was broad-based, but annual increases were particularly stunning in both gas prices (+50.3%) and groceries (+11.9%). On a...

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