U.S. wholesale prices rose modestly last month from a year earlier, another sign that inflationary pressures remain mild.

A sustained surge in oil prices is likely to complicate the U.S. fight against inflation. A $10-a-barrel increase would boost year-over-year growth in the consumer-price index by 0.5 percentage points,

Egg prices declined again in May, but still remain substantially higher than they were a year ago as avian flu remains on the loose.

The Consumer Price Index increased by 2.4% in May compared to a year ago, according to the Bureau of Labor Statistics' latest data. The latest report shows ground beef continues to steadily increase.

While some consumer goods have become increasingly out of reach for Americans, deflation wouldn’t be good for the economy either.

Wednesday's Consumer Price Index report showed that the index for food at home rose 0.3% last month, a rebound after recording a 0.4% drop in April to mark the largest monthly decline since 2020. May also marked the 27th straight month that inflation for food at home was below inflation for food away from home, per JPMorgan analyst Ken Goldman.

Oil surged, stocks fell and investors sought safety in the U.S. dollar and government bonds after Israel struck Iranian nuclear and military targets in an attack that raised the risk of all-out war between them.