Inflation has hit a 3-year high. What it means and what the Fed might do

NPR | By Steve Inskeep

Published June 11, 2026 at 4:47 AM EDT

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The U.S. annual inflation rate jumped to 4.2% in May, a three-year high. NPR's Steve Inskeep speaks with economist Claudia Sahm about what the numbers mean and what the Fed may do about it.

Economy

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Steve Inskeep

Steve Inskeep is a host of NPR's Morning Edition, as well as NPR's morning news podcast Up First.

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Inflation has hit a 3-year high. What it means and what the Fed might do

Support quality journalism, like the story above, with your gift right now.

Support quality journalism, like the story above,
with your gift right now.