Consumer Price Index jumps higher than expected; instills fear of looming recession
Fears of a recession are likely to dominate the markets today with the key inflation reading released today.
The Consumer Price Index jumped to 9.1 percent in June. That is higher than the 8.8 percent expected and up significantly from May. It is the largest 12-month increase since 1981.
The energy complex led the way, jumping 42 percent on the year, the largest since early 1980.