Inflation rose to 4.1% in May in Fed’s preferred gauge

Inflation increased to 4.1% in May, according to the Federal Reserve's preferred measure, marking a slight rise from previous months. This uptick can be largely attributed to energy supply issues stemming from conflicts in the Middle East. While this rise may seem small, it's crucial as it could influence the Federal Reserve's future monetary policy decisions, including interest rates, impacting everything from consumer borrowing costs to overall economic growth.