Inflation Likely Reached 3-Year High Last Month as Iran War Spikes Gas Prices

Amid Rising Prices, Trump Says He 'Loves Inflation'

US President Donald Trump on Wednesday brushed off concerns about consumer inflation surging to a fresh three-year high in May, on the back of soaring energy prices caused by his war in Iran.

Gas prices drop in Pa., Del., NJ as drivers plan for their summer getaways

Gas prices in Pennsylvania, New Jersey and Delaware are dropping as drivers prepare for their road trips and summer vacations.

'Risks are expected to build': MPI warns of Iran War ripple effects on NZ's food and fibre exports

New Zealand’s primary sector is likely to continue its strong run over the next few years, but the conflict in the Middle East poses a risk to the outlook, a...

Cost of conflict: US inflation hits 3-year high as Iran war fuels energy shock

US inflation hit a three-year high in May, soaring to 4.2% due to surging energy prices, particularly gasoline, driven by Middle East supply disruptions. This rise, the third consecutive monthly increase, pressures the Federal Reserve and poses a political challenge for the Trump administration ahead of midterm elections. Core inflation showed mixed signals, while energy costs are expected to cool.

Trump says 'I love the inflation' as US prices rise at fastest rate in three years

The US president later said he had meant that he actually loved that inflation was not higher.

US inflation jumped to 4.2% in May, the third consecutive increase since start of Iran war

Before the conflict began, inflation was at 2.4%, but the closure of the strait of Hormuz has affected energy pricesUS inflation jumped to 4.2% in May, the third consecutive monthly increase since the start of the Iran war and a three-year high, as Americans continue to face steep oil prices.Prices have increased sharply over the past several months, rising 3.3% in March before going up to 3.8% in April. In February, before the conflict began, i…