consumer price index

At 4.2%, US Inflation Posts Biggest Gain in Three Years, Fed Rate Path Affected

The US consumer price index increased 4.2% in the 12 months through May, the largest gain since April 2023, according to the Bureau of Labour Statistics. Surging energy prices amid the West Asia conflict and renewed US-Iran tensions contributed to the rise, giving the Federal Reserve cover to keep interest rates unchanged into 2027. Wall Street indexes fell, with the S&P 500 tech index down 1.6%.