BUSINESSTHE GUARDIAN WORLD
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 higher oil costs and rising inflation rates, which were 2.4% in February before the conflict began.
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Adjacent reporting
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- Inflation tops 4% for the first time in three years as Iran war drives energy costs higher
- Eurozone inflation soars to 3% as Iran war drives up energy prices
- Inflation rises to 4.2 percent in May, highest level in 3 years
- Inflation rate rises to 3.3 percent in March amid hiked energy costs from Iran war
- UK inflation rises to 3.3% amid soaring fuel prices driven by Iran war