US inflation reaches three-year high due to rising energy prices

Consumer inflation in the United States rose by 0.5 percent in May, marking the fastest increase in three years, driven primarily by a 3.9 percent surge in energy prices, including a 7 percent jump in petrol costs. Alongside rising shelter and food prices, real wages fell by 0.1 percent for the second consecutive month. The US Federal Reserve is under pressure ahead of its policy meeting, with predictions of potential interest rate hikes later this year.

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