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US CPI Jumps 4.2% May, Fueling Hawkish Fed Outlook

6/11/2026

28 6 Full Breakdown

Summary

Story summary

U.S. CPI rose 4.2% YoY in May, highest since April 2023, as energy jumped 23.5%.
Core CPI rose 0.2% in May to 2.9% YoY, reinforcing a hawkish Fed outlook.
The dollar rose 0.17% to 100.105 while euro fell to $1.1536 and sterling to $1.3349.
Crude inventories fell 9.12 million barrels week to June 5, lifting WTI to $90.02 and Brent near $91.36.
The Nasdaq 100, Dow, and VIX moved to 25,508, 49,924, and 22.23.

History

Historical Context

After U.S. oil production peaked in 1970, the country became a net importer and faced the 1979 oil crisis triggered by the Iranian Revolution, when OPEC and Saudi Arabia cut output, sending crude above $35 per barrel and pushing 1980 inflation to 13.5%. The episode taught the Federal Reserve to watch energy prices when setting policy.

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Story summary

U.S. CPI rose 4.2% YoY in May, highest since April 2023, as energy jumped 23.5%.
Core CPI rose 0.2% in May to 2.9% YoY, reinforcing a hawkish Fed outlook.
The dollar rose 0.17% to 100.105 while euro fell to $1.1536 and sterling to $1.3349.
Crude inventories fell 9.12 million barrels week to June 5, lifting WTI to $90.02 and Brent near $91.36.
The Nasdaq 100, Dow, and VIX moved to 25,508, 49,924, and 22.23.

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