US inflation hits new three-year high amid energy price surge | Business and Economy News
US consumer inflation surged to a three-year high in May, driven by soaring energy prices and increased shelter costs. The US Labor Department’s Bureau of Labor Statistics reported that inflation rose 0.5 percent from April, reaching 4.2 percent year-over-year. The surge is expected to lead the Federal Reserve to consider interest rate hikes in upcoming meetings. This news triggered market declines as investors reacted to the potential for higher borrowing costs and continued inflationary pressures.
10 JUN 2026
· THIS STORY — Al Jazeera
US inflation hits new three-year high amid energy price surge | Business and Economy News
— NDTV
President Trump defended his stance on inflation, stating he "loves the inflation," despite rising consumer prices driven by the US-Israel war against Iran.
— BBC
President Trump defended his stance on inflation, claiming he "loves the inflation" despite rising prices driven by increased energy costs.
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