Consumers and U.S. workers are feeling the pinch of a wage growth rate that lags behind the rate of inflation.

Annual inflation rose to a three-year-high of 4.2% in May, underscoring how elevated energy prices are rippling through the US economy, according to new data from the Bureau of Labor Statistics.

The consumer price index was expected to show a 4.2% gain from a year ago, according to the Dow Jones consensus estimate.

Inflation at 4.2% in May: Energy and Geopolitical Tensions Drive Up Prices; Core Inflation Near 3% Could Weigh on Purchasing ...

If the Wall Street consensus is correct, the consumer price index is expected to show inflation running at a 4.2% annual rate.

Inflation surged in May to the highest level since early 2023, as Iran war-related fuel costs worked their way through the broader economy. Overall, the yearly inflation rate rose to 4.2% in May from ...