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US inflation jumped to 4.2% in May, the third consecutive increase since start of Iran war

10 June 2026 at 13:34

Before the conflict began, inflation was at 2.4%, but the closure of the strait of Hormuz has affected energy prices

US inflation jumped to an annual rate of 4.2% in May, the third consecutive monthly increase since the start of the Iran war and a three-year high, as Americans continue to face steep oil prices.

Prices have increased sharply over the past several months, rising at an annual rate of 3.3% in March before going up to 3.8% in April. In February, before the conflict began, inflation was at 2.4%.

Friedrich Merz: Meet the Most Unpopular Chancellor in Modern German History

New Eastern Outlook

By: Ricardo Martins

10 June 2026 at 05:59

Germany’s economic decline is no longer merely an economic story. It has become a political one. Chancellor Friedrich Merz has become the focal point of this broader crisis of governance and legitimacy. For decades, Germany was regarded as the economic engine of Europe and, alongside France, a principal political architect of the European Union. Today, […]