US Inflation Picks Up to Three-Year High
AI Summary
US inflation reached its highest level in over three years in May, driven by rising energy prices attributed to the Iran war. These inflationary pressures have outpaced wage growth, impacting American consumers.
US inflation accelerated in May to the fastest pace in more than three years as the Iran war pushed up energy prices, outstripping Americans’ pay gains. Tiffany Wilding, Economist: North America at PIMCO, reacts to the May CPI report. (Source: Bloomberg)