U.S. wholesale inflation accelerated sharply in May, reaching its highest annual level in more than three years as energy prices continued to climb and fuel concerns about rising costs across the economy. New data released Thursday by the Bureau of Labor Statistics showed that the Producer Price Index, commonly known as the PPI, increased 1.1%…
inflation report
How the Iran conflict is threatening the U.S. economy
New economic data shows that inflation in the United States remained relatively stable in February, just before the outbreak of military conflict involving Iran created new uncertainty for the global economy. The latest Consumer Price Index report from the Bureau of Labor Statistics showed that overall consumer prices rose 2.4 percent compared with the same…