US consumers bear new price increase

WASHINGTON, D.C.: American consumers absorbed another surge in prices in May - a 0.6-percent increase over April and 5 percent over the past year, the biggest 12-month inflation spike since 2008.

The May rise in consumer prices that the Labor Department reported on Thursday (Friday in Manila) reflected a range of goods and services now in growing demand as people increasingly shop, travel, dine out and attend entertainment events in a rapidly reopening economy.