On June 10, it was reported that in May, the rate of increase in consumer prices in the United States reached its fastest level in three years. The conflict in the Middle East has driven up gasoline and other energy prices, providing further justification for the Federal Reserve to maintain interest rates unchanged until 2027. Data released on Wednesday showed that for the 12-month period ending in May, the Consumer Price Index (CPI) rose by 4.2% year-on-year, marking the largest increase since April 2023. Compared to the previous month, prices increased by 0.5%, following a 0.6% rise in April. The CPI has seen significant increases for three consecutive months, highlighting the growing pressure on households, as there are signs that more consumers are tapping into their savings to cover expenses. Additionally, the inflation rate has exceeded wage growth for the second consecutive month, which could adversely affect overall economic growth. Meanwhile, the sharp rise in the cost of living poses a significant political burden for President Trump and his party, as they seek to maintain control of Congress in the upcoming midterm elections in November.