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17 hours ago

Inflation rose again in May as elevated energy prices squeeze consumers

This story about the May 2026 CPI inflation report is developing and will be updated with more details.Inflation ticked higher in May as American consumers continued to face elevated fuel prices amid the Iran war's impact on the energy market and across the economy.The Bureau of Labor Statistics (BLS) said on Wednesday that the consumer price index (CPI) – a broad measure of how much everyday goods like gasoline, groceries and rent cost – rose 0.5% from a month ago and is 4.2% higher than a year ago. The annual figure is the highest since April 2023.Both the 0.5% monthly increase and the 4.2%...