Inflation Surges Amid Energy Shock

Inflation surged to 4.2% in May, fueled by a 40.5% spike in gas prices and a 60% jump in energy costs tied to global supply disruptions in the Strait of Hormuz—driving up everything from groceries to flights. Three-quarters of Americans say their income can’t keep up, squeezing household budgets. But there’s a silver lining: prices on cars, furniture, and drugs are finally falling after 14 months, hinting that some earlier inflation spikes may be easing. Meanwhile, the Fed is watching closely—after months of speculation about rate cuts, rising prices and a strong job market could push them toward a rate hike instead. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/16eb6eba01dc814e