Finance
US Inflation Tops 4% for the First Time in Three Years as Iran War Drives Gas Prices to Near-Record Highs
The US Bureau of Labor Statistics reported on June 10, 2026, that consumer prices in May rose 4.2% year-on-year, the highest rate since early 2023. Gasoline prices jumped 40.5% compared to a year earlier, driven by the disruption of oil tanker traffic through the Strait of Hormuz during the US-Iran war. Brent crude was trading above $105 per barrel, up 44% since the conflict began.
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