U.S. Inflation Rose 4.2% Over Year Ending in May, Highest Since April 2023, as Job Growth Continued
The Bureau of Labor Statistics reported the annual increase on June 10, 2026. Energy costs drove more than 60% of the monthly rise.
nypost.comS. 2% for the year ending in May, the highest annual inflation rate since April 2023. The Bureau of Labor Statistics released the data on June 10, 2026. 5% in May.
Energy costs accounted for more than 60% of that monthly rise. Shelter and food costs rose slightly in May. Indexes for communication, airline fares, medical care, personal care, and recreation also increased.
Indexes for motor vehicle insurance, household furnishings and operations, and new vehicles decreased. S. added 172,000 jobs in May. The jobs figure was released alongside the inflation data on June 10, 2026.
5% monthly gain aligned with Wall Street expectations. The report follows earlier tariff policies and energy market disruptions tied to restrictions on shipments through the Strait of Hormuz. President Trump has continued to call for lower interest rates.
Steve Swedberg, a finance and monetary policy analyst at the Competitive Enterprise Institute, said the data show little support for rate cuts given persistent inflation. Swedberg stated that the result is growing tension between economic indicators favoring restraint and political pressure for lower rates.
