WASHINGTON, Aug 14: Rising prices stretched Americans’ wallets further in July, according to a government survey on Thursday which showed that consumer price inflation surged by a more-than-expected 0.8 per cent.

On an annual basis, the government’s Consumer Price Index (CPI) a key barometer of price pressures leapt 5.6 per cent to July, marking the biggest annualised spike since January 1991.

Core prices, which strip out volatile energy and food costs, rose 0.3 per cent in July from the prior month, the Labour Department said in a monthly survey.—AFP