US Inflation Rises 9.1% in June, , Exceeds Expectations.<br />NBC News reports that the Consumer Price index hit 9.1% in June compared to a year ago and jumped 1.3% from May's 1% increase.<br />Wall Street analysts were only expecting a 1.1% increase from May and an annual rise of 8.8%.<br />Higher food and gas prices <br />played a big role in the June increase.<br />Higher food and gas prices <br />played a big role in the June increase.<br />Over the past 12 months, food prices have increased over 10.4%, while gas costs have skyrocketed 60% within the same time period.<br />Over the past 12 months, food prices have increased over 10.4%, while gas costs have skyrocketed 60% within the same time period.<br />Not taking food and gas into account, inflation rose 0.7% on the month and 5.9% for the year.<br />According to the Bureau of Labor Statistics, <br />a wide range of costs are increasing, <br />including dental services, .<br />which experienced its largest-ever increase <br />of 1.8% month on month.<br />Mark Hamrick, a senior economic analyst with Bankrate.com, says geopolitical issues such as the war in Ukraine kept food and gas prices rising.<br />It’s fair to say there may have been overly aggressive hopes that the war in Ukraine would be resolved quickly and in Ukraine’s favor, Mark Hamrick, a senior economic analyst with Bankrate.com, via NBC News.<br />It’s fair to say there may have been overly aggressive hopes that the war in Ukraine would be resolved quickly and in Ukraine’s favor, Mark Hamrick, a senior economic analyst with Bankrate.com, via NBC News.<br />And then there's the question mark of COVID and the appearance of new lockdowns emerging. That is making the supply chain issue unresolved, Mark Hamrick, a senior economic analyst with Bankrate.com, via NBC News.<br />And then there's the question mark of COVID and the appearance of new lockdowns emerging. That is making the supply chain issue unresolved, Mark Hamrick, a senior economic analyst with Bankrate.com, via NBC News.<br />According to AAA, gas prices have <br />slightly fallen over the past month, which <br />may be a sign that inflation peaked in June, .<br />but some experts say it's merely a temporary reaction caused by the fear of a global recession
