| The annual inflation rate in the United States reached 4.2% in May, rising from 3.8% recorded in April, the US Bureau of Labor Statistics (BLS) revealed in its report on Wednesday. The consumer price index (CPI) climbed by 0.5% compared to the previous month. Meanwhile, the core CPI, excluding food and energy, rose by 2.9% on an annual basis in the reported month, and it increased by 0.2% on a monthly basis. The biggest contributor to the monthly rise in inflation was the increase in energy prices, which grew by 3.9%. Powered by Commodity Insights |