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U.S. inflation in May mostly met expectations, with energy costs continuing to be a drag factor

MarsBitNews
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Mars Finance News, June 10 — The U.S. Department of Labor announced on Wednesday that the Consumer Price Index (CPI) in May increased by 4.2 year-over-year, accelerating from 3.8% last month. This is the highest year-over-year growth rate since April 2023, indicating that high energy costs resulting from the conflict with Iran continue to push up price pressures. Since the U.S. and Israel launched attacks against Iran in late February, Americans have been feeling the pain of rising oil prices. The increase in energy costs has weakened consumer confidence. Currently, there are almost no signs that oil tankers can obtain continuous passage permits through the Strait of Hormuz, which means that the supply pressure in the global energy market is expected to persist.
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