By Arlenys Tabare
This Wednesday, June 10, 2026, the Bureau of Labor Statistics (BLS) of the Department of Labor reported that the Consumer Price Index rose 0.5% during the month of May, placing the inflation rate in the United States at 4.2% year-on-year from the 3.8% registered in April.
The skyrocketing inflation in recent months is partly due to rising energy prices caused by the development of the war in the Middle Eastwhich has generated the closure of the Strait of Hormuz, through which nearly 20% of the world’s crude oil transits.
Despite the efforts of the Federal Reserve’s monetary policy regulators with raising interest rates to bring inflation to 2% targets, The shooting of the inflation rate to its highest level since 2023 is already weighing on the pockets of consumers, especially low-income ones, who are assuming higher expenses on basic goods.
According to the BLS report, the highest prices were observed in food with an increase of 0.2% in May; housing and rental, 0.3% and 0.5% respectively. Electricity prices rose 0.6%, gasoline rose 7% month-over-month, airfares rose 2.7%, while gas utilities fell 0.5% and, like transportation, which decreased 0.6% last month.
On the other hand, the Department of Labor reported that core inflation, which excludes food and energy prices, increased only 2.9% year-over-year compared to 2.8% in April.
Finally, for The Federal Reserve meeting is expected next Wednesday, June 17 and the FOMC commissioners to learn about the decisions regarding interest rates that until now remain in the range of 3.50%.
Keep reading:
- US mortgage rates fell to 6.4% from their highest level in nine months
- 172,000 jobs created in the United States in May, more than expected
- FED report reveals how high inflation is putting pressure on American consumers
- US jobless claims rise to highest level since war with Iran began
