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Inflation tops 4% for first time in three years

May data from the Commerce Department shows US inflation has risen above 4.0%. This represents the fastest pace of price increases in three years. High energy prices linked to Middle East conflict and gas prices drove the surge.

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What changed

Inflation broke the 4.0% threshold in May for the first time in three years.

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  1. US Inflation Exceeds 4% for First Time in Three Years

    May data from the Commerce Department shows US inflation has risen above 4.0%. This represents the fastest pace of price increases in three years. High energy prices linked to Middle East conflict and gas prices drove the surge.

    What's confirmed:

    • US inflation exceeded 4.0% in May.
    • This is the highest inflation level in three years.
    • The core inflation rate reached 3.4% in May.
    • Energy prices and gas prices contributed to the increase.
    • The 3.4% core inflation rate is the highest since October 2023.

    Still unconfirmed:

    • The inflation surge boosts bets for a Federal Reserve rate hike.
    • Spending is picking up.
    confidence 90%