U.S. inflation rises 4.2% in May, highest since 2023
financeJun 10, 202615663
U.S. Consumer Price Index rose 4.2 percent year over year in May, the fastest annual inflation rate since 2023. The increase was driven largely by a spike in energy prices tied to more than three months of conflict with Iran, which pushed gasoline and fuel costs sharply higher. The hotter inflation reading strengthens the case for the Federal Reserve to keep interest rates elevated, raising borrowing costs and increasing pressure on household budgets.
