Consumer prices rose 4.2% annually in May, highest in three years
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Inflation rises to 4.2 percent in May, highest level in 3 years
The annual inflation rate increased to its highest point in three years as the cost of energy and other goods rose due to the Iran war, according to data released by the Department of Labor on Wednesday. The consumer price index (CPI), a popular gauge of inflation, rose 4.
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Treasuries Advance Before Auction as Oil Prices Retreat Further
Treasuries rose as benchmark oil prices declined to the lowest levels in more than a month, alleviating concern about elevated inflation ahead of Wednesday’s release of the May consumer price index.
U.S. Exports Rose in April, as War with Iran Buoyed Oil Demand
Commerce Department data showed exports rose in April, slightly outpacing the growth in imports.