U.S. inflation hits 3-year-high
Summary
The United States experienced its highest inflation rate since April 2023 in May, based on the latest data from the government. This means that prices for goods and services increased faster than before during that time.Key Facts
- Inflation in the U.S. reached its highest point since April 2023.
- The increase happened in the month of May.
- The data comes from the Bureau of Labor Statistics.
- Inflation means a rise in the prices people pay for things.
- Higher inflation can affect household budgets and the economy.
- The news was reported by Kelly O'Grady for CBS News.
- The report is available on the CBS News app and website.
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