Inflation Hits Three-Year Peak as Energy Costs Surge Amid Geopolitical Volatility
U.S. inflation reached a three-year high in May, surging 4.2% on an annual basis as escalating geopolitical tensions in Iran disrupted global energy markets. The Labor Department reported that energy costs accounted for more than 60% of the overall price increases, placing significant financial pressure on both consumers and the broader industrial sector. The Drivers…