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U.S. May CPI Forecast to Jump to 4.2%, Highest Since March 2023, Driven by Sticky Housing and Services Inflation

GateNews
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According to Jay Woods, chief global strategist at Libertas Capital Markets, the U.S. headline Consumer Price Index for May is expected to surge to 4.2% year-over-year on June 9, the highest level since March 2023, up from 3.8% in April. Woods highlighted that more concerning than the overall figure are sticky inflation components including housing, insurance, and services, which may remain elevated longer and keep inflation above the Federal Reserve's comfort zone. Unlike gasoline-driven inflation spikes, these persistent price increases may require extended time to reverse.
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