US inflation climbed to a fresh three-year high in May, driven largely by rising energy prices linked to global supply disruptions following the Iran conflict, according to official data released on Wednesday.

Inflation has surged to its highest level in more than three years since the U.S. and Israel launched their war on Iran, triggering a surge in gasoline prices.

Consumers and U.S. workers are feeling the pinch of a wage growth rate that lags behind the rate of inflation.

Soaring prices push consumers’ wallets to the brink