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CNN CNN Newsroom With Fredricka Whitfield July 7, 2024

alone. and they re expected to rise even further as we reach peak summer travel season. the high prices also driving inflation to the highest level since 1981. the consumer price index jumping 8.6% in may compared to the same time, same month last year. now the white house calling that staggering increase uncomfortably high. cnn s christine romans has more now on these troubling new numbers and how wall street is reacting. american consumers are still feeling the pain of higher prices for just about everything, but especially at the pump. look, the may consumer price index, that number up 8.6% from the year before. the fastest since 1981. and when you look at just the month, prices rose 1% from april to may, 1%, that s a big move in one month. core cpi, which they strip out food and energy which can be more volatile, that rose 6% from last year. prices across the board more expensive than last year. largely driven by shelter, the biggest yearly gain there since 1991. food u

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