United States inflation rose to 4.2% in May, marking the highest annual increase in consumer prices in three years. This figure represents the third consecutive monthly rise since the start of the Iran war.
The increase in consumer prices has pushed inflation above the 4% mark for the first time in three years. A significant factor contributing to this surge is a reported jump in oil prices.
The May inflation data indicates a notable acceleration in the cost of goods and services across the nation. This is a developing story and will be updated as details emerge.
