Annual inflation rate in the US unexpectedly accelerated to 8.6% in May of 2022, the highest since December of 1981 and compared to market forecasts of 8.3%. Energy prices rose 34.6%, the most since September of 2005 and food costs surged 10.1%, the first increase of 10 percent or more since the period ending March 1981. Core inflation however, slowed for a second month to 6%, compared to expectations of 5.9%. source: U.S. Bureau of Labor Statistics