US Inflation Exceeds 4% for First Time in Three Years
US inflation has risen above 4% for the first time in three years, driven by a significant spike in gasoline prices. This increase marks a notable shift in the economic landscape.
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Inflation tops 4% for the first time in 3 years on spike in gasoline prices
Inflation has surged to its highest level in more than three years since the U.S. and Israel launched their war on Iran, triggering a surge in gasoline prices.
By Scott Horsley
Read full article →Inflation surpassed 4% for the first time since 2023
The new Bureau of Labor Statistics report showed how consumer prices, including food, changed in May. Brandon Bell/Getty Images The new CPI report showed annual inflation jumped to 4.2% in May, the highest rate since April 2023. Data last Friday showed job growth has been healthy, so economists expect the Fed to focus on inflation. Inflation outpaced wage growth for the second straight month. US annual inflation accelerated to 4.2% last month, new consumer price index data showed, as expect...
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