May inflation likely topped 4% for first time in 3 years, economists say

Economists expect a key inflation gauge set to be released on Wednesday to show that U.S. consumer prices in May rose at their fastest pace in more than three years. The Consumer Price Index is forecast to have risen last month at an annual rate of 4.2%, up from 3.8% in April, according to economists polled by financial data company FactSet. That would be the highest since April 2023, when inflation rose at a 4.9% rate, according to government data . …