Inflation hits 4.1 percent in May, highest level in 3 years (opens original article in a new tab)

Inflation hits 4.1 percent in May, highest level in 3 years. Annual inflation hit the highest level in more than three years last month as prices across the economy rose at an even quicker pace, according to data released Thursday by the Commerce Department. Prices rose 4.1 percent over the past year and 0.7 percent in May alone, as measured.

• Inflation reached 4.1 percent in May, the highest level in three years
• Annual inflation rose to 4.1 percent with a 0.7 percent increase in May alone
• Data released by the Commerce Department shows prices across the economy rose at a quicker pace