US Inflation Surges to 3.3%

The data marks the biggest yearly increase since May 2024, putting further pressure on American households.

New vehicle prices have also seen a significant jump, rising 12.6% from a year ago as automakers focus on more expensive models.

Economists warn that the 'bitter bill' for the regional conflict is beginning to show up in a wide range of consumer goods.

The Federal Reserve may face difficult choices regarding interest rates if prices continue to climb through the summer.