Inflation Pressure Index — May 2026: 40.7

In May 2026, the Inflation Pressure Index averaged 40.7 and reached a peak of 48 on May 16. Tension was pushed up early in the month by market inflation fears running ahead of reality, as well as rising US and Canadian inflation caused by surging energy and gasoline costs from the war in Iran. On the other hand, conditions calmed down when China's factory inflation hit a 45-month high from an energy price shock and an assessment of wage inflation dropped the index by 9 points. The index eventually hit its lowest reading of 32 on May 27 to end the month.

Scores in this month were computed by the first-generation engine (v1).

Peak 48 on 2026-05-16 · low 32 on 2026-05-27 · locked record · ← April · Inflation Pressure Index timeline · June → · World Tension, same month

• US inflation jumps to 3.8% as energy costs surge from Iran war BBC · 2026-05-12
• Quantifying the impact of the Iran war on US inflation CEPR · 2026-05-04
• Inflation Accelerates After Weeks of War in Iran The New York Times · 2026-05-12
• The Iran war is hitting home as gasoline prices fuel inflation surge of 3.8% in the US AP News · 2026-05-12
• Canada's inflation rate accelerates to 2.8% as Iran war pushes up gasoline prices Reuters · 2026-05-19
• Inflation hits three-year high in April as Iran war impacts consumer prices Axios · 2026-05-12
• US inflation jumped to 3.8% in April as war with Iran continues to drive up prices theguardian.com · 2026-05-12
• Inflation Jumps as War-Driven Energy Costs Drive Up Prices The New York Times · 2026-05-12