06/11/2026
Consumer prices rose 4.2% in May, the highest annual inflation rate since April 2023 and the first time headline inflation has crossed 4% since then.
The war in Iran is doing most of the damage. Energy prices jumped 3.9% in a single month and are now up 23.5% over the past year. Food climbed 3.1%. Gasoline, electricity, and medical care are all running above 3%. The one bright spot was core inflation, which strips out food and energy, and it held at 2.9%.
Heather Long, chief economist at Navy Federal Credit Union, put it bluntly: Americans are getting squeezed, and ending the war in Iran would help cool things off. But she warned the worst is likely still to come for food prices.
If you've felt it at the pump and at the checkout line, you're not imagining it. Share this so others know what's really driving it.