US Energy Inflation Quickens in May

2026-06-10 12:50 By Luisa Carvalho 1 min. read

US energy inflation accelerated further to 23.5% year-over-year in May 2026, up from 17.9% in April and marking the sharpest annual increase since August 2022.

The rise was driven by a 40.6% jump in energy commodities amid the Middle East conflict and ongoing disruptions in the Strait of Hormuz, with gasoline prices jumping 40.5% and fuel oil prices surging 58.9%.

Energy services advanced 5.3%, led by a 5.9% increase in electricity costs and a 3.0% rise in piped gas service.

On a monthly basis, energy prices advanced by 3.9%, after a 3.8% surge in the preceding month.



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US Energy Inflation Quickens in May
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