Inflation rose above 4% in May, with the consumer price index reaching its highest level in at least 3 years, driven in part by increases in energy prices. The surge in inflation is attributed to various factors, including a spike in gasoline and oil prices. The exact timing and causes of the inflation surge are somewhat unclear, with some reports referencing the month of May and others mentioning the impact of global events, while some forecasts suggest inflation could continue to rise.