US CPI Hits 3-Year High at 4.2%, Energy Prices Surge, Rate Hike Expected by Year-End

Published: Jun 18, 2026 22:33

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US CPI YoY 4.2% in May hit a nearly three-year high — energy prices, up 23.5% YoY, were the main driver, while core CPI was relatively mild (2.9%). BNP Paribas expected an interest rate hike as early as December; Goldman Sachs pushed back the timing of its rate cut to mid-2027.

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