Inflation Hit Highest Rate In 3 Years In May

BreakingBusinessInflation Hit Highest Rate In 3 Years In MayByTy Roush,Forbes Staff. Ty Roush is a breaking news reporter based in New York City.Follow AuthorJun 10, 2026, 08:49am EDTToplineInflation rose to its highest annual rate in three years in May, as surging oil costs once again fueled broader price increases amid a persistent conflict in the Middle East, according to federal data released Wednesday.Inflation worries remain as employment data has surpassed expectations.Getty ImagesKey FactsConsumer prices increased 4.2% from May 2025 and 0.5% between April and May, the Bureau of Labor Statistics reported, matching consensus economist estimates, according to FactSet.That’s the first time inflation crossed the 4% annual rate since May 2023 (4%), and it’s the highest rate since April 2023 (4.9%).Core CPI, an inflation reading that excludes energy and food price increases, rose by 2.9% annually, aligning with analyst estimates even as its monthly gain of 0.2% was below estimates of 0.3%.The energy index, which tracks shifts across gas, fuel oil and other energy commodities, rose 3.9% in May, accounting for more than 60% of all price increases as gas prices surged 7% month-to-month and nearly 59% annually, the most of any item tracked by the Bureau of Labor Statistics.This is a developing story.Got a tip? Share confidential information with Forbes.Editorial StandardsReprints & PermissionsLOADING VIDEO PLAYER...FORBES’ FEATURED Video