Worse to Come From Worst U.S. Inflation in 40 Years, Surges 7.5% on an Annual Basis

U.S. stocks took a nasty turn downward after the Bureau of Labor Statistics announced a higher-than-expected 7.5% jump in consumer prices over the last 12 months, the worst inflation in forty years.

The month’s gain of 0.6% for the Consumer Price Index also translates into an annual rate of 7.5%.