Inflation watch: US consumer prices post sharpest rise since 2008

The flames of inflation fears got a fresh dose of fuel on Tuesday after United States government data showed that consumer prices surged again in June. 

The flames of inflation fears got a fresh dose of fuel on Tuesday after United States government data showed that consumer prices surged again in June. Consumer prices spiked 0.9 percent last month after rising 0.6 in May, the US Department of Labor said. That is the sharpest one-month change since June 2008. Over the last 12 months, the all items consumer price index rose 5.4 percent in June – the largest annual increase since August 2008. The all items index has been trending up every month since January when the 12 months change was 1.4 percent.