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Gas price information is displayed on a sign at a gas station in Chicago, Illinois, on the 9th (local time). / AFP Yonhap

U.S. consumer price inflation has soared to its highest level in three years, driven by a surge in energy prices stemming from the war in the Middle East. However, core inflation—which excludes volatile food and energy components—remained relatively stable, indicating that inflationary pressures have not broadcasted across the broader economy.

According to the Consumer Price Index (CPI) report released by the U.S. Bureau of Labor Statistics (BLS) on the 10th (local time), the annual inflation rate for last month hit 4.2%, marking a three-year high.

Consumer prices rose 0.5% from the previous month, with energy price hikes accounting for 60% of the total monthly increase. The uptick in inflation was driven heavily by energy prices, which have climbed due to the war involving the U.S., Israel, and Iran.

Meanwhile, price increases for overall food and groceries slowed compared to April. They rose 0.2% and 0.1%, respectively, down from the 0.5% and 0.7% growth seen in April.

Underlying inflation trends remained relatively modest. Core CPI, which strips out food and energy, increased 0.2% from April, coming in below market expectations, while its annual rate recorded 2.9%.

"While 4.2% is still a concerning figure, the more important takeaway is that these price increases are not broadening out extensively across the economy but are instead concentrated heavily in energy, particularly gasoline," evaluated Sung Won Sohn, a professor of finance and economics at Loyola Marymount University.

CNN commented that these figures underscore growing public anxieties over the cost of living, while refueling attention on President Donald Trump’s inflation-busting pledges ahead of the upcoming U.S. midterm elections in November.

Speaking to reporters at the White House in Washington, D.C., on the day of the release, President Trump reacted to the data, stating, "The numbers are great. I like these results. I like the inflation numbers."

He reiterated his stance that inflation would cool down once oil shipments resume free passage through the Strait of Hormuz, predicting that prices would drop sharply once the war concludes.

"Inflation is not going to get worse, but it will likely hover at a somewhat elevated level for the time being," projected Nancy Vanden Houten, lead economist at Oxford Economics. "We might not see prices truly moderate until next year."

                                                                                                            Kim Hyun-min