US Wholesale Inflation Hits 6.5% High Amid Energy Price Surge
US wholesale inflation hit 6.5% annually in May, driven by a 23.4% gasoline price surge due to the Iran war, posing a challenge for new Fed chair Kevin Warsh.
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US wholesale inflation hit 6.5% annually in May, driven by a 23.4% gasoline price surge due to the Iran war, posing a challenge for new Fed chair Kevin Warsh.
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US real average hourly earnings fell 0.1% in May as inflation rises. Higher energy prices and constrained budgets add to household stress.
US CPI inflation accelerated to 4.2% in May, the fastest pace in three years, driven by high energy prices. Core CPI rose 2.9%.
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