Economic TimesLean R·
US inflation tops 4% for first time in three years, keeping Fed hike in play
U.S. inflation increased further in May, breaking above 4.0% for the first time in three years as the Middle East conflict boosted energy prices, and keeping an interest rate increase from the Federal Reserve this year on the table. But with oil prices falling to pre-war levels on Thursday after the United States and Iran signed a preliminary peace deal, inflation likely peaked last month or is close to doing so. While easing oil prices could dampen goods inflation, that could be offset by more…
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