Month-on-month prices rose by 1.1 per cent, which was higher than market expectations. Read more at straitstimes.com. Read more at straitstimes.com.

Consumers and U.S. workers are feeling the pinch of a wage growth rate that lags behind the rate of inflation.

US inflation accelerated to 4.2% in May, driven by a sharp rise in energy prices as gasoline costs climbed more than 40% year-over-year.