Consumer prices rise 4.2% annually in May, hitting three-year high
By
Jeff Cox
Pure flour-power. Hearty enough to carry you through lunch.
Summary
Consumer prices rose 4.2% annually in May, marking the highest inflation rate in three years. Core CPI (excluding food and energy) increased 0.2% monthly and 2.9% annually. The monthly core gain was below expectations of 0.3% and lower than April's 0.4% increase. Americans are feeling financial pressure from rising costs of basics like gas, food, electricity, and medical care.
Key quotes
· 2 pulledAmericans are getting squeezed financially by inflation that's back at a 3-year high.
The frustration for many Americans is that so many of the basics are up in price right now -- gas, food, electricity, and medical care are all clear pain points.
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