URL has been copied successfully!
Rising energy prices from the three-month-old war in Iran lifted inflation in May to its highest level in three years.
The U.S. annual inflation rate surged to 4.2 percent last month from 3.8 percent in April, according to new Bureau of Labor Statistics data released on June 10.
This is the highest 12-month inflation reading since April 2023.
Core inflation, which strips out the volatile energy and food categories, ticked up to 2.9 percent year over year from 2.8 percent in the previous month.
Both readings were in line with economists’ expectations.
On a month-over-month basis, May’s consumer price index (CPI) rose by 0.5 percent, while core edged up by a smaller-than-expected pace of 0.2 percent….
The U.S. annual inflation rate surged to 4.2 percent last month from 3.8 percent in April, according to new Bureau of Labor Statistics data released on June 10.
This is the highest 12-month inflation reading since April 2023.
Core inflation, which strips out the volatile energy and food categories, ticked up to 2.9 percent year over year from 2.8 percent in the previous month.
Both readings were in line with economists’ expectations.
On a month-over-month basis, May’s consumer price index (CPI) rose by 0.5 percent, while core edged up by a smaller-than-expected pace of 0.2 percent….
Please follow us:
