US CPI hit 4.2% in May as Iran war energy costs surged, dimming rate-cut hopes and pressuring Bitcoin and other assets.

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

Rising gasoline prices are expected to push US CPI to 4.2% in May 2026, potentially the fastest inflation since April 2023, pressuring crypto markets.