May’s Consumer Price Index (CPI) put headline inflation at 4.2% on the year, up from 3.8% in April and the hottest reading since April 2023, while core prices rose just 0.2% on the month, undershooting the 0.3% consensus and halving April’s pace.
4.2% headline, 0.2% core: Why the Fed’s next hike may be targeting the wrong problem
