BUSINESSGUARDIAN US
US inflation jumped to 4.2% in May, the third consecutive increase since start of Iran war
US inflation rose to 4.2% in May, marking the third consecutive monthly increase since the start of the Iran war. The closure of the Strait of Hormuz has impacted energy prices, contributing to a three-year high in inflation, with rates previously at 3.3% in March and 3.8% in April.
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Adjacent reporting
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- Inflation rises to 4.2 percent in May, highest level in 3 years
- Eurozone inflation soars to 3% as Iran war drives up energy prices
- Inflation rate rises to 3.3 percent in March amid hiked energy costs from Iran war
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- UK inflation rises to 3.3% amid soaring fuel prices driven by Iran war