US inflation accelerates in May, reaching a three-year high, according to multiple outlets. The Financial Times reports that the US inflation rate jumps to 4.2%, a level not seen for about three years, while Channel NewsAsia says inflation hits a three-year high as well. Both accounts link the higher prices to pressures from the Middle East conflict, which they say feed into US energy costs. They point to rising prices for gas and other energy-related products as a key driver of the monthly increase. The reports indicate that the energy shock raises overall inflation even as broader economic conditions remain under scrutiny by markets and policymakers. The new inflation reading is expected to be closely watched for its implications for future Federal Reserve policy decisions, particularly around interest rates and the pace of any easing. While the outlets focus on the energy-driven causes of the increase, they also present the May inflation figure as the central development. Overall, the sources agree that inflation is higher than recent months and that energy costs tied to Middle East developments play a significant role.