The U.S. consumer price inflation rate for May hit a record high in three years and one month.
On the 10th (local time), the U.S. Department of Labor's Bureau of Labor Statistics said the consumer price index (CPI) for May rose 4.2% from a year earlier. That is the highest level since 4.9% in Apr. 2023.
It matched the consensus forecast compiled by Dow Jones. It also rose 0.5% from the previous month, in line with market expectations.
Core CPI, which excludes the more volatile energy and food categories, rose 2.9% year over year and 0.2% month over month.
The year-over-year increase in core CPI matched market expectations, but the month-over-month rise fell short of the 0.3% forecast.
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