Geoffrey Smith 

Investing.com — The U.S. inflation rate rose more than anticipated in May. This shatters any hopes of a peak in rising living costs. 

Inflation rose 1.0% in April to 8.6%, a record high for the country. Analysts expected that the headline rate would remain at 8.3% with only 0.7% monthly growth.

Also, the inflation rate which excludes volatile energy and food prices rose more than predicted. The core inflation rate increased 0.6% in April. This means that it fell to 6.0%, down from 6.2%.