US inflation spikes to 3-year high in May as Iran war energy shock persists
US consumer inflation reached a three-year high in May, with the consumer price index (CPI) increasing by 4.2% year-on-year. This surge is attributed to rising energy prices, exacerbated by the ongoing conflict involving Iran and its impact on global oil supply routes. The persistent cost increases are a significant concern for voters ahead of the November midterm elections. AI
