Inflation spiked to 4.2%, a three-year high, in May

By: Tim Henderson

Outlets: Stateline

Published: June 10, 2026

Words: 376

Last Updated: 1 day, 9 hours ago

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Consumer price inflation reached 4.2% in May, the highest mark in three years, boosted largely by higher energy prices that have spiked because of the Iran war, according to federal numbers released on Wednesday.

The higher year-over-year inflation rate was expected. But at more than double the Federal Reserve’s target rate of 2%, the new numbers dimmed hopes for a cut in the interest rate.

States face more budget pressures amid rising costs, …

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