U.S. consumer prices rose 4.2% in May from a year earlier, the fastest increase since April 2023. Energy costs, especially gasoline, drove much of the rise as conflict disrupted oil shipping through the Strait of Hormuz.
Posts tagged as “consumer price index”
U.S. inflation rose to 4.2% in May, the highest level in three years, as energy costs tied to the Iran war continued to climb. Core inflation increased 2.9%, while wage growth lagged behind the broader rise in prices.