US inflation rises
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Inflation Jumps
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Inflation just jumped to its highest point since April 2023. Here's what that may mean for mortgage interest rates.
The Consumer Price Index is one of the last major data releases ahead Kevin M. Warsh’s first meeting as chair of the Federal Reserve.
Consumer prices for the year ending in May rose by 4.2%, the fastest inflation rate in three years, the Bureau of Labor Statistics reported Wednesday.
Inflation jumped to a three-year high in May as the Iran war continued to fuel higher energy prices.
Consumers and U.S. workers are feeling the pinch of a wage growth rate that lags behind the rate of inflation.
The Consumer Price Index rose last month at a 4.2% annual rate amid a spike in U.S. energy prices.
'Dead money': 3 financial advisors reveal where they're parking cash as inflation hits a 3-year high
The inflation rate climbed 0.6% in April, pushing the annual rate up to 3.8%, a three-year high (1). And consumer prices rose 3.8% year over year while inflation-adjusted hourly wage growth came in at 3.6%, according to CNN (2). That means the purchasing power of many Americans is slipping, even as they continue to earn more on paper.
By David Ljunggren OTTAWA, June 10 (Reuters) - The Bank of Canada on Wednesday left its key interest rate unchanged as expected and said it was seeing limited evidence that higher energy prices were fueling broad-based inflation.
U.S. Treasury yields were a touch higher early Wednesday as traders awaited the May consumer price index index report, due for release at 8:30 a.m. Eastern. Economists expect the annual headline CPI rate to hit 4.