Inflation Jumps to 4.2%, Fastest Monthly Rise Since 2024

Inflation rose from 3.8% in April to 4.2% in May—the biggest one-month jump in nearly two years. Two straight months of steep price gains mean this isn't just a blip. The next inflation report on July 14 will show whether prices keep climbing or cool off. That matters for your savings, loans, and what the Federal Reserve does with interest rates.