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May inflation is expected to have jumped as the Iran war sent prices higher
Inflation is likely to have increased for a third straight month in May as the war with Iran sent energy prices higher and ratcheted up pressure on U.S. consumers. The Bureau of Labor Statistics’ Consumer Price Index for last month will be released at 8:30 a.m. ET Wednesday. Economists surveyed by Dow Jones expect it will show the annual rate of inflation hit 4.2%, well above the 2.4% level it hit before the war and its highest point since early 2023.
Here's the inflation breakdown for May 2026 — in one chart
Consumer prices in May rose at their fastest pace in more than three years as the Iran war continued to put upward pressure on gasoline and other energy-related costs. The consumer price index, a key inflation gauge, increased to 4.2% last month relative to a year earlier — the highest annual inflation rate since April 2023 and an increase from 3.8% in April, the U.S. Bureau of Labor Statistics said Wednesday. "Inflation is painfully high," said Mark Zandi, chief economist at Moody's.
Consumer prices rose 4.2% annually in May, highest in three years
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100 days into Iran war, Americans face higher prices
100 days into Iran war, Americans face higher prices On average, US households have spent $750 more in expenses due to the war, hitting middle- and lower-income people hard. A hundred days into the US-Israel war on Iran, Americans are facing increasing financial pressure at the pump and at the grocery store in an economy already facing headwinds from United States President Donald Trump’s domestic and foreign policies, including tariffs. The war is unpopular, with 66 percent of Americans...
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US Consumer Price Index up 4.2%
An official website of the United States government Transmission of material in this release is embargoed until 8:30 a.m. (ET) Wednesday, June 10, 2026 USDL-26-0824 Technical information: (202) 691-7000 * [email protected] * www.bls.gov/cpi Media contact: (202) 691-5902 * [email protected] CONSUMER PRICE INDEX - MAY 2026 The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5 percent on a seasonally adjusted basis in May, after rising 0.6 percent in April, the U.S. Bureau of...
May jobs report expected to show growth in an economy squeezed by inflation
The jobs report for May, set to be released Friday morning, is expected to show that hiring has remained steady despite growing inflation and energy prices triggered by the ongoing war in Iran. Economists polled by Dow Jones believe that the U.S. economy will have added 80,000 positions in May and that the unemployment rate will be unchanged, at a low 4.3%. Average hourly earnings, which fell below the rate of inflation in April, are expected to rise 0.3%.
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Australia's first-quarter economic growth misses estimates on severe weather, weak demand
Australia's economy expanded less than expected in the first quarter, as subdued household spending, a pullback in government consumption and severe weather disruptions to mining and exports weighed on growth. The country's GDP expanded 2.5% in the first three months this year, compared to a year earlier, missing economists' expectations for a 2.6% growth, data from the Australian Bureau of Statistics showed Wednesday. On a quarter-on-quarter basis, Australia's GDP grew 0.3% compared with...