Inflation: "it's back!"

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Consumer prices rise sharply in May

17 June
Consumer prices last month posted their sharpest increase in 15 months as inflation continued a recent acceleration from unusually low levels.

The consumer price index jumped 0.4% after rising 0.3% in April, the Labor Department said Tuesday. Economists had expected a 0.2% increase.

Over the past 12 months, prices have increased 2.1%.

Core inflation, which excludes the volatile food and energy categories, was up 0.3% last month the most since August 2011.

The rise in prices was broad-based, with food, energy, housing, apparel and other costs among those increasing. Food costs jumped 0.5%, the largest increase since August 2011, as meat, poultry fish and eggs rose 1.4% and fruits and vegetables rose 1.1%.

http://www.usatoday.com/story/money/business/2014/06/17/consumer-prices-may/10642375/