Why consumer prices jumped in May
Summary
Consumer prices in the U.S. increased significantly in May. Inflation reached its highest level in more than three years, rising at an annual rate of 4.2%.Key Facts
- Consumer prices went up again in May.
- Inflation rate was 4.2% for the year ending in May.
- This is the highest inflation level seen in over three years.
- The information comes from the U.S. Bureau of Labor Statistics.
- Higher inflation means people pay more for goods and services.
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