Inflation Surges Back With Energy Spike

Inflation’s back with a bang—consumer prices jumped 4.2% in May, fueled by soaring energy costs and rising food prices. Gasoline up 41%, fuel oil 59%, airline fares 27%—while car prices hold steady or dip. Fruits and veggies cost 6% more, tomatoes up 32%, beef 13%, and even tobacco’s up 8%. Global supply chain hiccups and livestock health concerns are likely drivers. With inflation far above the Fed’s 2% target, the central bank may hint at rate hikes later this year despite holding steady for now. 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/64086574e9c71358