Inflation soars to highest level since 2023
Consumer inflation topped 4% on an annual basis for the first time in 3 years as the Iran war oil shock pushes up prices.
May inflation data: Prices rise 4.2%, the hottest CPI print since 2023
Consumer prices rose 0.5% month over month and 4.2% year over year in May, according to the latest Consumer Price Index (CPI) survey. Core CPI — which excludes food and energy costs — rose 0.3% monthly and 2.9% yearly. All numbers met economists' estimates. Yahoo Finance's Julie Hyman takes a closer look at the breaking numbers in the video above.