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CPI headline inflation likely to dip in Tuesday report–market will cheer; Fed will shrug

Stocks plunge as May CPI inflation rises to 8.6%

Headline Consumer Price Index inflation in May rose to a new annual high rate of 8.6% in May, the Bureau of Labor Statistics reported today, June 10. Headline prices rose 1% from April. The big drivers were, as expected, food (with prices up at a 10.1% annual rate)...