U.S. inflation data for May are due on Wednesday and could be a key piece of data ahead of the Federal Reserve’s rate decision on June 17 as investors look for clues on whether the central bank could consider raising interest rates. The data follow U.S. figures for May that showed much stronger jobs growth than expected, leaving the prospect of a rate cut—which had looked strong prior to the start of the U.S.-Iran war—increasingly unlikely. Instead, signs of high inflation, and particularly signs that high energy prices are filtering through into other areas of the economy, would increase expectations that the Fed’s ... (full story)