Daily Business Briefing: A broad, rapid rise in prices spells trouble.

Plus: 7 takeaways from a hot inflation number.

July 13, 2022, 1:55 p.m. Eastern time Good afternoon. Key inflation numbers are in, and they are hotter than expected. The Consumer Price Index climbed 9.1 percent in June from a year earlier, the fastest pace since 1981. Prices for food, rent and gasoline were among the categories that rose the most, further squeezing Americans' budgets. There's hope the C.P.I. may come down a bit next month, when the report will capture the falling price of gas in July, but gas prices are volatile and could shoot up again. The problem is not limited to the United States. Three of the largest economies in the eurozone — Germany, France and Spain — are also facing some of the highest inflation rates in decades. Read our inflation blog, with in-depth commentary from New York Times reporters. Here's what is happening today A broad, rapid rise in prices spells trouble. Read this story 7 takeaways from a hot inflation number. Delta reports a $735 million quarterly profit as demand helps offset rising costs. Why Elon Musk can't back out of buying Twitter, according to Twitter. The former C.E.O. of Overstock is expected to speak to investigators. See the full briefing What do you think of this email? We would love to hear from you. Was this email forwarded to you? Sign up here to get this in your inbox. Get Business alerts as they happen with The New York Times app. Need help? Review our newsletter help page or contact us for assistance. You received this email because you signed up for Daily Business Briefing from The New York Times. To stop receiving these emails, unsubscribe or manage your email preferences. Subscribe to The TimesGet The New York Times app Connect with us on: Change Your EmailPrivacy PolicyContact UsCalifornia Notices The New York Times Company. 620 Eighth Avenue New York, NY 10018