finance
U.S. inflation rate rises to 4.2 percent in May
The inflation rate increased to 4.2 percent in May, the highest level since April 2023. CBS News reported the figure rose 3.8 percent from the prior month.
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U.S. inflation rose to 4.2 percent in May, the highest level recorded since April 2023. CBS News reported the increase marked a 3.8 percent jump from the April reading.
Mortgage rate context Higher inflation readings can influence how lenders set mortgage interest rates. CBS News noted the latest data may affect borrowing costs for home loans. The report did not include projections for specific rate changes or timelines.
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