With inflation proving stubborn, a potential political flashpoint for midterm elections, markets expect the Federal Reserve could raise rates by the end of the year.
U.S. inflation surged to a three-year high in part because of skyrocketing gas prices as consumer prices exceeded 4% in May’s overall inflationary spike.
WASHINGTON (AP) — Consumer prices probably jumped in May for the third straight month, heightening concerns for the inflation fighters at the Federal Reserve
The Labor Department released its consumer price index (CPI) inflation data for May which showed that inflation rose and remained persistently high last month.
The recent increase has been driven in large part by spiking energy prices, which have soared as the conflict with Iran disrupted the global oil supply.
Annual inflation rose to a three-year-high of 4.2% in May, underscoring how elevated energy prices are rippling through the US economy, according to new data from the Bureau of Labor
Rising gas prices pushed inflation to its highest level in three years last month, a headache for the Federal Reserve and a potential political challenge for the Trump administration as...
WASHINGTON (AP) — Rising gas prices pushed inflation to its highest level in three years last month, a headache for the Federal Reserve and a potential political
Rising gas prices pushed inflation to its highest level in three years last month, a headache for the Federal Reserve and a potential political challenge for the Trump administration as midterm elections near
Inflation had been cooling before Trump imposed sweeping tariffs in April 2025, which lifted the costs of many goods. Prices have since surged after the Iran war made oil and gas more expensive.
U.S. inflation climbed above 4% for the first time in three years in May as rising energy costs tied to the Iran war pushed consumer costs sharply higher
Consumer price inflation reached 4.2% in May, the highest mark in three years, boosted largely by higher energy prices that have spiked because of the Iran war, according to federal numbers released on Wednesday. The higher year-over-year inflation rate was expected.
Wholesale inflation shot up in May to its highest level since November 2022 as higher energy costs amid the Iran war weighed on the economy – likely keeping the Fed from slashing interest rates anytime soon.
