- U.S. inflation has climbed above 4 percent for the first time in three years.
- The inflation rate rose 4.2 percent year-on-year in May, significantly higher than the 2.4 percent recorded before the war began on February 28.
- This increase in inflation is largely attributed to soaring energy costs, impacting the cost of living across various consumer goods.
- Gas prices have surged more than 50 percent since the war started, including a 7 percent month-on-month increase in May.
- The average price for a gallon of gas in the U.S. currently stands at $4.15.
IN FULL
