Inflation has reached a three-year high, with a rate of 4.1% in May. This is an increase from the previous month, when the rate was 3.8%. The gap between wages and spending power has widened as a result.

Core inflation has also increased, albeit slightly, to 3.4%. Economists believe that stable oil prices could help reduce overall inflation in the near future. Further details on the current inflation rate and its potential impact are available from CBS Texas.

For more information, readers can consult the source for additional context and analysis.