US inflation surged to a three-year high of 4.2% in May, driven largely by rising energy costs attributed to the conflict in Iran.

• 4.2% increase in prices from a year earlier, up from 3.8% in April.
• President Donald Trump expressed approval of the inflation figures, stating "I love the inflation."
• Contributing factors include increased energy bills, with petrol prices significantly higher, and rising costs for plane tickets, recreation, and communication.