{"id":84529,"date":"2026-06-09T19:49:56","date_gmt":"2026-06-09T19:49:56","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/inflation-in-may-likely-topped-4-for-the-first-time-in-3-years-economists-say\/"},"modified":"2026-06-09T19:49:56","modified_gmt":"2026-06-09T19:49:56","slug":"inflation-in-may-likely-topped-4-for-the-first-time-in-3-years-economists-say","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/inflation-in-may-likely-topped-4-for-the-first-time-in-3-years-economists-say\/","title":{"rendered":"Inflation in May likely topped 4% for the first time in 3 years, economists say"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div id=\"\">\n<p>Economists expect a key inflation gauge set to be released on Wednesday to show that U.S. consumer prices in May rose at their fastest pace in more than three years.\u00a0<\/p>\n<p>The Consumer Price Index is forecast to have risen last month at an annual rate of 4.2%, up from <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/cpi-report-today-april-2026-inflation-iran-war-trump\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">3.8% in April,<\/a><\/span> according to economists polled by financial data company FactSet. That would be the highest since April 2023, when inflation rose at a 4.9% rate, according to government\u00a0<a href=\"https:\/\/www.bls.gov\/charts\/consumer-price-index\/consumer-price-index-by-category-line-chart.htm\" target=\"_blank\" rel=\"noopener\">data<\/a>.<\/p>\n<p>So-called core CPI, which excludes volatile food and gas prices, is forecast to have risen much more modestly in May to an annual rate of 2.9%, from 2.8% the previous month, according to FactSet.<\/p>\n<div>\n<div style=\"min-height:502px\" id=\"datawrapper-vis-fMjdv\"><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/fMjdv\/full.png\" alt=\"The energy shock is reigniting inflation (Line chart)\"\/><\/div>\n<\/div>\n<p>Inflation surged during the pandemic and remains well above the Federal Reserve&#8217;s 2% annual target. In contrast to the supply disruptions that drove inflation during the COVID-19 crisis, the latest leg up in prices is largely attributable to government policy, including the <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/live-updates\/iran-war-trump-peace-deal-israel\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">Iran war<\/a><\/span>, Mark Zandi, chief economist at Moody&#8217;s Analytics, told CBS News.\u00a0<\/p>\n<p>&#8220;It&#8217;s been almost five years since the last time we were at the Fed&#8217;s target, and I think just wearing down on the collective psyche, it&#8217;s one reason why people feel so bad about the economy,&#8221; he said.<\/p>\n<p>Three-quarters of Americans said their incomes aren&#8217;t keeping up with inflation, according to a recent\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/cbs-news-poll-stress-uncertainty-economy-views-decline\/\" data-invalid-url-rewritten-http=\"\">CBS News poll<\/a><\/span>.<\/p>\n<p>The May CPI data is likely to show that higher energy prices are mostly to blame for ongoing inflation, according to economists. Those figures will capture the rise in fuel prices from mid-April to mid-May.\u00a0<\/p>\n<p>More recently, oil and fuel costs have eased, according to CBS News&#8217; <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/gas-oil-prices-cost-iran-war\/\" data-invalid-url-rewritten-http=\"\">energy price tracker<\/a><\/span>. The average cost of a gallon of gas in the U.S. is $4.16, down 40 cents from its most recent peak on May 21, according to <a href=\"https:\/\/gasprices.aaa.com\/\" target=\"_blank\" rel=\"noopener\">AAA<\/a>. Brent crude, the international standard, fell 3.5% on Tuesday to $90.99 a barrel, while West Texas Intermediate, the U.S. benchmark, was down 4.1% at $87.57 a barrel.<\/p>\n<div>\n<div style=\"min-height:565px\" id=\"datawrapper-vis-FinjE\"><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/FinjE\/full.png\" alt=\"Gas prices over time (Line chart)\"\/><\/div>\n<p> <amp-iframe width=\"100\" height=\"100\" layout=\"responsive\" sandbox=\"allow-scripts allow-same-origin\" resizable=\"\" src=\"https:\/\/datawrapper.dwcdn.net\/FinjE\/\"> <\/amp-iframe><\/div>\n<p>Beyond what the latest CPI reveals about energy costs, economists on Wednesday will also zero in on the cost of goods and services to assess how higher fuel prices are rippling through the economy, Zandi said.\u00a0<\/p>\n<p>&#8220;It&#8217;s not just gasoline prices \u2014 it&#8217;s also diesel prices, which put upward pressure on prices for everything that&#8217;s put on a truck, from groceries to Amazon packages,&#8221; he said. &#8220;It&#8217;s now more expensive to fly as airlines have passed through the higher jet fuel costs.&#8221;<\/p>\n<section class=\"content__body--footer\">\n<p class=\"content__meta--editors\">\n      Edited by<\/p>\n<p>                                  <a href=\"https:\/\/www.cbsnews.com\/team\/alain-sherter\/\" class=\"byline__author__link\" data-invalid-url-rewritten-http=\"\">Alain  Sherter<\/a>\n                      <\/p>\n<\/section>\n<p>  <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation  \">\n<p><h3 class=\"component__title\">More from CBS News<\/h3>\n<\/p>\n<div class=\"component__item-recirc-block\">\n<p><h3 class=\"component__title\">Go deeper with The Free Press<\/h3>\n<\/p><\/div>\n<\/aside>\n<section class=\"content__body--footer\">\n      <!-- tags --><\/p>\n<section class=\"content__tags\">\n<p class=\"content__tags__label\">In:<\/p>\n<\/section>\n<\/section><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cbsnews.com\/news\/inflation-rate-cpi-2026-may-report\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Economists expect a key inflation gauge set to be released on Wednesday to show that U.S. consumer prices in May<\/p>\n","protected":false},"author":1,"featured_media":84530,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[2304,957,1528],"class_list":["post-84529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us","tag-consumer-price-index","tag-inflation","tag-iran"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Inflation in May likely topped 4% for the first time in 3 years, economists say - World News<\/title>\n<meta name=\"description\" content=\"Economists expect the Consumer Price Index this week to show U.S. inflation continuing to rise due to higher energy costs.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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