U.S. Inflation Reached 40-Year High Of 9.1% In June

The video discusses the latest inflation report, revealing a 9.1% increase year-over-year, higher than expected. The White House is optimistic that this may represent a peak, as gas prices have started to fall. Key contributors to inflation include gasoline, shelter, and food prices. The report suggests a potential interest rate hike by the Fed. The White House has yet to release an official response, but anticipates a decrease in energy prices.

What was the change in core inflation from May to June?

What is the expectation regarding future interest rates based on the inflation data?