Consumers are increasingly feeling the strain of the US Israel war in Iran.

Rising gas prices pushed inflation to its highest level in three years last month, a headache for the Federal Reserve and a potential political challenge for the Trump administration as midterm elections near.

US CPI for May matches forecasts, but softer core inflation at 2.9% cools market fears, keeping Bitcoin near $60,000.

By Lucia Mutikani WASHINGTON, June 10 (Reuters) - U.S. consumer inflation increased at its fastest pace in three years in May, boosted by surging prices for energy products amid the Middle East conflict,

According to the BLS, the energy index rose 3.9% in May after increasing 3.8% in April and 10.9% in March. Energy accounted for more than 60% of the overall monthly increase in consumer prices.

US inflation hits a three-year high in May

By Saqib Iqbal Ahmed NEW YORK, June 10 (Reuters) - The dollar slipped on Wednesday after data showed U.S. consumer inflation rose to its highest level in three years in May, though the reading was in line with economists' expectations,

President Donald Trump on Wednesday showed how he had learned to stop worrying about inflation and simply, in his own words, “love” it. Asked about the new report that the consumer price index in May had jumped 4.

Inflation accelerated for a third straight month in May amid a stalemate in negotiations to end a war with Iran that has pushed up energy prices, adding to the burden on already strained consumers.

European stocks were muted as a key report on US inflation offered some relief to investors, with attention now turning to the European Central Bank’s policy decision.

U.S. producer prices increased more than expected in May, leading to the largest annual gain in 3-1/2 years as the Middle East conflict boosted the