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US inflation surges to three-year high of 4.2%
Key takeaways
- Archie Mitchell Business reporter Getty Images US prices in May rose at their fastest rate in three years, with inflation surging to 4.2%.
- The rise, from 3.8% a month earlier, was largely driven by rising energy costs, the Bureau of Labor Statistics (BLS) said.
- It marked the third month in a row the Consumer Price Index (CPI) has risen, with households increasingly feeling the strain of the US and Israel's war in Iran.
Why this matters: a developing story that could shape the day's news cycle.
Archie Mitchell Business reporter Getty Images US prices in May rose at their fastest rate in three years, with inflation surging to 4.2%.
The rise, from 3.8% a month earlier, was largely driven by rising energy costs, the Bureau of Labor Statistics (BLS) said.
It marked the third month in a row the Consumer Price Index (CPI) has risen, with households increasingly feeling the strain of the US and Israel's war in Iran.
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