During the month, fuel, housing and air tickets became even more expensive in the United States, which brought down stock indices on European stock markets, Voice of America reports..

The US Department of Commerce said on Friday that consumer price growth in the country accelerated again during May.. Consumer Price Index (CPI) up 1.0% in May from 0.3% in April. This means that the increase over the past 12 months was 8.6%, which has not been observed in the US for more than 40 years..

The average cost of gasoline rose to $4.37 per gallon on average (in the US - 3.8 liters). Prices for various services have also risen - rent, hotel rooms, airline tickets - which gave economists reason to believe that the Federal Reserve System (Fed) will continue to raise its base rate throughout the summer in order to curb inflation.. It is expected that the discount rate may be raised again at the next meeting of the Fed leadership next Wednesday.

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To some extent, analysts say, the rise in prices is due to the fact that unemployment in the United States is still at an all-time low, and many companies have increased the salaries of their employees due to a shortage of workers..

Reports of rising U.S. inflation were followed by the announcement by the European Central Bank that it too is preparing to raise interest rates next month for the first time since 2011.. All this had a negative impact on European stock indices, which lost from 2.0% to 5.2% on Friday..