Lates News

The U.S. Department of Labor stated on Wednesday that the CPI in May increased by 4.2% year-on-year, accelerating from the previous month's 3.8%. This is the highest year-on-year growth level since April 2023, indicating that the high energy costs caused by the conflict with Iran continue to push up prices. Since the end of February, Americans have been feeling the pain of rising oil prices due to the attacks launched by the U.S. and Israel against Iran. The increase in energy costs has weakened consumer confidence. There is currently little sign of oil tankers being able to obtain permission to pass through the Hormuz Strait continuously, meaning that supply pressures in the global energy market are expected to continue.