May Inflation Jumps To 4.2%, Highest Since 2023, Fueling Fed Hike Odds - State Street SPDR S&P 500 ETF Tr

US inflation reaches 4.2%, clouding Fed rate-cut outlook

Annual inflation accelerated to 4.2% in May, driven largely by higher fuel costs, as rising prices continue to weigh on household budgets and cloud the Federal Reserve's interest-rate outlook.