What drives US inflation?
Energy costs, wages, housing, and supply chains all feed into the number the Fed watches most. Each row traces a chain of real events that pushed inflation higher or lower, month by month.
What's driving markets right now — the full picture, every 3 days. Fast, free.
Sign upMAY 1 – MAY 31, 2026
MAY 20
Closed: +0.24%
🇮🇷 Military Strike
2026-05-20
🌍 Oil Price Rise
2026-05-20
The Iran conflict raises fuel costs, which increases production costs for rice, pushing prices up.
US INFLATION ▲
2026-05-20
High oil prices increase production and transportation costs, leading to higher overall prices.
↓
US INFLATION ▲
↓
🌍 Energy Shock
2026-05-20
US INFLATION ▲
2026-05-20
Higher energy costs from the energy shock add upward pressure to consumer prices.
↓
US INFLATION ▲
↓
MAY 19
Closed: −0.33%
🇮🇷 Military Strike
2026-05-15
🌍 Oil Price Rise
2026-05-15
The Iran war and Trump's remark disrupted oil supply, pushing prices higher.
US INFLATION ▲
2026-05-19
Higher oil prices increase costs for goods and transport, pushing overall prices up.
🇺🇸 Interest Rate Rise Expectation
2026-05-19
Higher inflation makes the Fed more likely to raise interest rates.
🇺🇸 Adjustable-Rate Mortgage Share Rise
2026-05-20
Expectation of higher future rates makes adjustable-rate mortgages more attractive, increasing their share.
↓
US INFLATION ▲
↓
MAY 18
Closed: −0.12%
🕌 Conflict Escalation
2026-05-18
US INFLATION ▲
2026-05-18
Middle East conflict raises energy prices, which increases costs for US consumers and businesses.
🇺🇸 Interest Rate Rise Expectation
2026-05-19
Higher inflation makes the Fed more likely to raise interest rates.
🇺🇸 Adjustable-Rate Mortgage Share Rise
2026-05-20
Expectation of higher future rates makes adjustable-rate mortgages more attractive, increasing their share.
↓
US INFLATION ▲
↓
MAY 15
Closed: −0.36%
🇮🇷 Conflict Escalation
2026-05-11
🌍 Energy Price Rise
2026-05-11
Conflict escalation disrupts oil supply, raising energy prices globally.
US INFLATION ▲
2026-05-15
Higher energy costs increase production and transportation expenses, pushing up overall prices.
🇺🇸 Interest Rate Rise Expectation
2026-05-19
Higher inflation makes the Fed more likely to raise interest rates.
🇺🇸 Adjustable-Rate Mortgage Share Rise
2026-05-20
Expectation of higher future rates makes adjustable-rate mortgages more attractive, increasing their share.
↓
US INFLATION ▲
↓
MAY 14
Closed: −0.1%
🇮🇷 Energy Price Rise
2026-05-14
US INFLATION ▲
2026-05-14
War in Iran caused an energy shock, which increased inflationary pressures in the US.
🇺🇸 Interest Rate Rise Expectation
2026-05-19
Higher inflation makes the Fed more likely to raise interest rates.
🇺🇸 Adjustable-Rate Mortgage Share Rise
2026-05-20
Expectation of higher future rates makes adjustable-rate mortgages more attractive, increasing their share.
↓
US INFLATION ▲
↓
🇮🇷 Conflict Escalation
2026-05-14
US INFLATION ▲
2026-05-14
The Iran war drives up US inflation by increasing costs and supply disruptions.
🇺🇸 Interest Rate Rise Expectation
2026-05-19
Higher inflation makes the Fed more likely to raise interest rates.
🇺🇸 Adjustable-Rate Mortgage Share Rise
2026-05-20
Expectation of higher future rates makes adjustable-rate mortgages more attractive, increasing their share.
↓
US INFLATION ▲
↓
What's driving markets right now — the full picture, every 3 days. Fast, free.
Sign up
MAY 13
Closed: +0.0%
🕌 Transport Cost Rise
2026-05-13
US INFLATION ▲
2026-05-13
Higher freight and transportation costs from Middle East disruptions push up wholesale prices, leading to inflation.
🇺🇸 Interest Rate Rise Expectation
2026-05-19
Higher inflation makes the Fed more likely to raise interest rates.
🇺🇸 Adjustable-Rate Mortgage Share Rise
2026-05-20
Expectation of higher future rates makes adjustable-rate mortgages more attractive, increasing their share.
↓
US INFLATION ▲
↓
MAY 12
Closed: −0.17%
🕌 Energy Price Rise
2026-05-12
US INFLATION ▲
2026-05-12
Higher energy costs increase production and transportation expenses, pushing overall prices up.
🇺🇸 Interest Rate Rise Expectation
2026-05-19
Higher inflation makes the Fed more likely to raise interest rates.
🇺🇸 Adjustable-Rate Mortgage Share Rise
2026-05-20
Expectation of higher future rates makes adjustable-rate mortgages more attractive, increasing their share.
↓
US INFLATION ▲
↓
🇮🇷 Military Strike
2026-05-12
🌍 Oil Price Rise
2026-05-12
Higher crude oil prices from the Iran war pushed energy costs up, raising inflation.
US INFLATION ▲
2026-05-12
Higher oil prices increase costs for energy and transport, pushing up overall prices.
🇺🇸 Interest Rate Cut Delay
2026-05-12
Expected inflation rise makes Fed delay rate cuts, reducing chance of cuts.
↓
US INFLATION ▲
↓
🇮🇷 Conflict Escalation
2026-05-11
🌍 Energy Price Rise
2026-05-11
Conflict escalation disrupts oil supply, raising energy prices globally.
US INFLATION ▲
2026-05-12
Higher energy prices increase production and transportation costs, pushing overall prices up.
🇺🇸 Interest Rate Cut Delay
2026-05-12
Expected inflation rise makes Fed delay rate cuts, reducing chance of cuts.
↓
US INFLATION ▲
↓
MAY 4
Closed: −0.18%
🇮🇷 Military Strike
2026-05-04
🌍 Energy Price Rise
2026-05-04
Missile strikes in the Middle East disrupt oil supply, pushing energy prices higher.
US INFLATION ▲
2026-05-04
Higher energy prices increase production and transportation costs, leading to higher overall prices.
🇺🇸 Interest Rate Cut Delay
2026-05-12
Expected inflation rise makes Fed delay rate cuts, reducing chance of cuts.
↓
US INFLATION ▲
↓
APR 1 – APR 30, 2026
APR 24
Closed: +0.21%
🇺🇸 Military Strike
2026-04-24
🌍 Energy Price Rise
2026-04-24
Military strike threats and blockades disrupt oil supply, pushing energy prices higher.
US INFLATION ▲
2026-04-24
Higher oil prices increase costs for goods and transport, pushing overall prices up.
↓
US INFLATION ▲
↓
APR 17
Closed: +0.26%
🕌 Conflict Escalation
2026-04-17
US INFLATION ▲
2026-04-17
The Middle East conflict is already contributing to inflationary pressures by keeping oil prices elevated.
↓
US INFLATION ▲
What's driving markets right now — the full picture, every 3 days. Fast, free.
Sign up