US inflation data on Wednesday will give investors an indication of how far shockwaves from the Iran war are reaching into the world’s biggest economy.
Economists polled by Bloomberg expect the consumer price index to have risen at an annual pace of 4.3 per cent in May, the fastest rate in more than three years.
But they do not expect surging energy costs to have fed into core inflation, which strips out volatile food and energy prices and which is seen holding steady at 2.9 per cent.
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