US Inflation Hits 3-Year High
US inflation climbs to 4.1% in May, its highest level in more than three years, with consumer spending rising 0.3% and first-quarter GDP revised higher to 2.1%.
U.S.
INFLATION HITS 3-YEAR HIGH U.S. inflation climbed to 4.1% in May, its highest level in more than three years, while consumer spending rose 0.3%, showing resilient demand.
First-quarter GDP was also revised higher to 2.1%.
The stronger data is likely to reinforce expectations that the Federal Reserve will raise interest rates later this year.