The United States experienced its largest increase in year-over-year inflation in three years in May, reaching 4.2 %.

According to analysts, “this spike is in line with market expectations, which anticipated the continuation of an upward trend driven by higher energy prices due to the war in Iran.”

In May, energy prices rose 3.9 %. Furthermore, “inflation in energy products accounted for more than 60 % of the overall monthly increase.” Meanwhile, year-over-year, food prices increased by 3.1 %.

Core inflation — which excludes the impact of volatile energy and food prices — rose to 2.9 % year-on-year last month, slightly above April’s 2.8 %.

M.Pino

Source: elconfidencial

(Reference image source: Hobi industri on Unsplash)

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