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An employee arranges Apple iPhones as customer shop at an Apple store.
Mike Segar | Reuters
The last time Apple faced an inflationary environment like this, it had been a public company for less than a year and its best-selling product was the Apple II home computer.
In May, the annual inflation rate in the U.S. was 8.6%, the highest level since 1981. Other major markets for Apple sales are seeing similar or even higher levels of inflation.
Apple…
