Inflation jumped to 8.6% in May, after rising to 8.3% in April, to set a new four-decade high, according to figures released Friday by the Labor Department.
The continued spike in the cost of consumer goods is expected to trigger another interest rate hike by the Federal Reserve, which will almost certainly result in higher cost loans for consumers and businesses.
With the summer travel season in full swing, airline fares are up nearly 38% in the past year, the sharpest rise since the Carter administration.
Gas prices are nearly 50% higher nationally than one year ago.
According to AAA, the average nationwide price for a gas of regular gasoline reached $5 Saturday, up 60 cents from one month ago.
In Missouri, the statewide average climbed 8 cents in a single day to $4.65 and is up 67 cents from May.
Locally, prices in Poplar Bluff averaged $4.59 on Tuesday, with similar prices in Van Buren and Doniphan, while several stations in Dexter saw $4.69.