Inflation in the United States heated up sharply in May, squeezing households and rattling markets as energy prices surged.
The latest consumer price index data showed that prices climbed 4.2% year over year, marking the steepest increase in three years and underscoring persistent inflationary pressure despite widespread hopes that price growth was cooling.
The Bureau of Labor Statistics reported Wednesday that overall prices rose 0.5% from April on a seasonally adjusted basis.
While the figures matched expectations, they painted a troubling picture ...
The opinions expressed by contributors and/or content partners are their own and do not necessarily reflect the views of TalkRed.com. Contact us for guidelines on submitting your own commentary.