Rise in gas prices from Iran war could have helped inflation hit a 3-year high

Soaring gas prices drove inflation to its highest level in three years in May.

Consumer prices increased 4. 2% last month compared to 2025, up from 3. 8% in April and the third consecutive spike.

The Associated Press noted, citing the Department of Labor, that monthly prices jumped 0. 5% in May, after substantial gains of 0. 6% in April and 0. 9% in March.