NEW YORK -- The US consumer price index (CPI) rose 4.2 percent year on year in May, marking its highest level since May 2023, as energy prices remained high, according to data released by the US Bureau of Labor Statistics on Wednesday.

Economists expect the Consumer Price Index this week to show U.S. inflation continuing to rise due to higher energy costs.

NEW YORK -- The US consumer price index (CPI) rose 4.2 percent year on year in May, marking its highest level since May 2023, as energy prices remained high, according to data…