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The headline inflation reading is brutal, indicating how American paychecks are getting eroded by the Iran war. At the same time, the relatively modest core inflation highlights that this energy price hike hasn't yet threatened general price stability.

U.S. consumer prices rose 0.5 percent in May and were up 4.2 percent from a year earlier. "Core" prices, excluding food and energy, were up 0.2 percent month-over-month and 2.9 percent year-over-year. Data: www.bls.gov/news.release... Full coverage: www.nytimes.com/live/2026/06... #NumbersDay