Economists expect Wednesday's US May CPI to show consumer prices rising at their
fastest pace in more than three years. Moody's Analytics chief economist Mark
Zandi said, unlike pandemic-era inflation driven by supply disruptions, the
recent surge is largely linked to government policy including the Iran war and
is eroding consumer confidence. A CBS poll found 75% of Americans say their
incomes are not keeping up with inflation. Economists say energy price gains are
the main contributor to persistent inflation and will watch goods and services
components to assess pass-through; higher diesel is lifting trucking costs and
prices for transported goods from groceries to e‑commerce parcels, and higher
jet fuel has been passed through into airfares.
