US consumer inflation hits fresh three-year high in May
WASHINGTON, United States (AFP) — United States (US) consumer inflation surged to a fresh three-year high in May, according to official data released Wednesday, as increased energy prices rippled through the world's largest economy. The consumer price index (CPI) rose 4.2 per cent year-on-year, up from April's 3.8 per cent figure, the US Bureau of Labor Statistics said. It was the highest reading since April 2023, according to official data,...