Inflation in the U.S.: Another Spike Expected in May Report Due to War with Iran
· Telemundo McAllen (KTLM)
Inflation in the United States has risen for the third consecutive month, with the Consumer Price Index (CPI) reaching 4.2%, the highest level since early 2023. The Bureau of Labor Statistics (BLS) reported a 0.5% increase from April, largely driven by a 10.9% rise in energy prices in May. Energy costs accounted for over 60% of the overall monthly increase. While inflation has outpaced wage growth, which stands at 3.4%, oil prices have surged nearly 35% since the onset of the conflict with Iran. Gas prices remain about 40% higher than before the conflict, despite a recent dip in retail gasoline prices.
AI summary · Source: Telemundo McAllen (KTLM) →
