Treasury Secretary Janet Yellen on Thursday stated that U.S. inflation is “unacceptably high” following a grim price level report that was issued by the Bureau of Labor Statistics a day before.
The Consumer Price Index, a key measure of inflation, rose 9.1 percent year-over-year in June—the highest figure since November 1981. Meanwhile, another indicator, the Producer Price Index, shot up to 11.3 percent, according to a government report released Thursday.
“We are taking our own steps which we believe will be supportive in the short term to get inflation down—particularly what we’re doing on energy prices and the Strategic Petroleum Reserve,” Yellen told reports in Indonesia on Thursday in reaction to the dismal numbers….
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