Washington: The annual inflation rate in the United States has reached a significant milestone, hitting its highest level since April 2023. The Bureau of Labor Statistics reported on Wednesday that the inflation rate climbed to 4.2% in May. This marks the third consecutive increase in annual inflation, with the rate rising from 3.8% in April 2026.

According to Anadolu Agency, various sub-indexes contributed to this inflationary surge, with energy prices experiencing the most substantial rise, escalating by 23.5%. Meanwhile, food inflation was recorded at 3.1%, further contributing to the overall increase. Despite these figures, the monthly inflation rate in May was reported at 0.5%, showing a slight decline from 0.6% in the previous month.