Investors are bracing themselves for the fallout from Friday's latest Consumer Price Index. The report shows inflation rose 8.6% in May.

It's the largest 12-month increase since December 1981.

Many financial analysts warn inflation is about to get worse before it gets better. Meanwhile, the Federal Reserve is taking painful steps to try and stop the U.S. economy from heading into a recession.

Allianz chief economic adviser Mohamed El-Erian said “I think you've got to be very modest about what we know about this inflation process. And I fear that it's still going to get worse. We may well get to 9% at this rate."... Read More: WMAR2NEWS