At 9.1 percent in June, the American Bureau of Labor Statistics reported another increase in consumer prices.

The rate of inflation was last this high in 1981. Analysts had expected inflation of 8.8 percent.

For May, inflation was still 8.6 percent.

Gregory Bruner

Editor in Business.

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Prices are rising across the board.

Energy prices rose 41.6 percent, the biggest increase since 1980.

Consumers had to pay 5.6 percent more for living space compared to the previous year.

Fuel became more expensive by 59.9 percent.

So-called core inflation excluding food and energy was 5.9 percent year-on-year.

In an initial reaction, economist Bastian Hepperle from Bankhaus Hauck Aufhäuser Lampe commented: “The overall inflation rate has reached a new inflation peak, despite a strong dampening base effect from the previous year.

There is still far too much pressure in the inflation pipeline.

So the risk remains high that this wasn't the last peak this year.” At least the fall in the core inflation rate for the third month in a row is a small ray of hope.

"But at 5.9 percent, it's still far too high."

The persistently high inflation rates are increasing the pressure on the US Federal Reserve (Fed) to further tighten its monetary policy.

Most recently, in June, it raised the framework for its key interest rates by 0.75 percentage points, so that they are now in the range between 1.5 and 1.75 percent.

An equally large interest rate hike is expected on the financial markets for the monetary authorities' meeting.