Inflation Jumps to 4.2% — Biggest Monthly Gain Since Last Year's Peak

Inflation rose 40 basis points (0.4%) in May 2026 to 4.2% annually—the largest single-month jump since the 4.9% peak. The climb from 3.8% in April suggests prices are speeding up again, not settling down. Back-to-back months of strong monthly gains matter most to what the Federal Reserve does next. The June report arrives July 14.