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As Iran war drags on, spiking energy prices send inflation to 3-year high
Spiking energy prices sent inflation to a three-year high in May, up 4.2% annually. The Labor Department said the cost of energy was responsible for over 60% of the increase. Core inflation, which strips out volatile food and energy prices, was up a more modest 2.9%. Geoff Bennett discussed more with Roben Farzad of Full Disclosure.
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npr.org
Inflation tops 4% for the first time in 3 years on spike in gasoline prices
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.
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independent.co.uk
Inflation likely reached 3-year high last month as Iran war spikes gas prices
Consumer prices probably jumped in May for the third straight month, heightening concerns for the inflation fighters at the Federal Reserve and underscoring the threat rising…
