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   News alert: Inflation hits 4.2% in May
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   The highest rate since April 2023 — and energy is driving it.
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               U.S. inflation climbed to 4.2% in May, the highest rate in three 
years
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              The Consumer Price Index rose 4.2% over the 12 months ending in May, the Bureau of Labor Statistics reported Wednesday — up from 3.8% in April and the highest annual rate since April 2023. Energy prices drove more than 60% of the monthly gain, with gasoline up 40.5% from a year earlier. The report arrives ahead of the Fed's June
17 rate decision, the first to be chaired by Kevin Warsh — with markets pricing in a near-certain hold.
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