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 ...
Source: [Guardian World](https://www.theguardian.com/business/2026/jun/10/inflation-report-rate)