The annual inflation rate surged to 5.6% in July - the highest point in 17 years, the government announced Thursday.
The previous month's reading on annual inflation was 5%.
The July increase matched the 5.6% level in January 1991, when the Persian Gulf War was raging.
"It's obviously disturbing - it's a bad number," said David Wyss, chief economist for Standard & Poor's.
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