US inflation jumped to 4.2% in May, the third consecutive increase since start of Iran war (opens in new tab)  💰Monetary Policy  Content type: News

Before the conflict began, inflation was at 2.4%, but the closure of the strait of Hormuz has affected energy pricesUS and a three-year high, as Americans continue to face steep oil prices.Prices have increased sharply over the past several months, rising 3.3% in March before going up to 3.8% in April. In February, before the conflict began, inflation was at 2.4%.