Inflation topped 4% in May as CPI surged to highest level in 3 years

MoneyWatch Inflation topped 4% in May as CPI surged to highest level in 3 years .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Mary Cunningham Mary Cunningham Reporter, MoneyWatch Mary Cunningham is a reporter for CBS MoneyWatch. She previously worked at "60 Minutes," CBSNews.com and CBS News 24/7 as part of the CBS News Associate Program. Read Full Bio Mary Cunningham June 10, 2026 / 8:33 AM EDT / CBS News Add CBS News on Google Inflation across the U.S. accelerated in May as the shock to global energy supplies from the Iran war continued to push prices higher.The Consumer Price Index rose at an annual rate of 4.2% last month, up from 3.8% in April and the highest level in three years.By the numbersEconomists polled by financial data firm FactSet predicted inflation in May would rise at an annual rate of 4.2%. The CPI, a basket of goods and services typically bought by consumers, tracks changes in prices over time.—This is a developing story and will be updated Edited by Aimee Picchi .component--type-recirculation { .item:nth-child(7), .card-recirc:nth-child(7) { display: none; } } #inline-recirc-item--id-7cd4f424-a486-4286-8d3e-9f571ed2ae65, #right-rail-recirc-item--id-7cd4f424-a486-4286-8d3e-9f571ed2ae65 { display: none; } #inline-recirc-item--id-7cd4f424-a486-4286-8d3e-9f571ed2ae65 ~ .item:nth-child(7) { display: block; } In: Consumer Price Index Inflation © 2026 CBS Interactive Inc. All Rights Reserved.