Inflation hits 9.1% in June, highest level in 40 years

Inflation hit 9.1% in June, the highest level in 40 years. The increase was driven by rising prices for food, energy, and housing. The Federal Reserve is expected to raise interest rates in an effort to cool inflation.

The high level of inflation is a major concern for the Biden administration and the Federal Reserve. The administration has taken steps to address inflation, such as releasing oil from the Strategic Petroleum Reserve and providing tax breaks for families. The Federal Reserve is expected to raise interest rates several times this year in an effort to cool inflation.

The high level of inflation is putting a strain on household budgets. Many families are struggling to afford basic necessities, such as food and gas. The high level of inflation is also a threat to