Inflation hit 9.1% in June, highest in more than 40 years

Inflation hit a fresh 40-year record in June, with consumer prices increasing 9.1% over the last 12 months, the Labor Department said Wednesday. It's the fastest increase in prices since 1981.

Core inflation, which strips out volatile food and energy prices, rose 5.9% over the last 12 months, slowing its pace from May.

Gasoline, food and shelter drove the increases in June.