US Inflation Hits Three-Year High as Energy Prices Surge

US inflation hits three-year high

Gideon Long dives into the latest US inflation figures after prices rose at their fastest pace in three years. We hear from American business owners on the front line of rising costs. We also turn to China, where inflation remains far lower than in the United States, and examine what the latest figures reveal about the strength of the world's second-largest economy. And with the FIFA World Cup approaching North America, how are businesses preparing for the economic opportunities the tournament could bring? (Picture: Fuel prices are displayed outside a gas station in Washington, DC, USA, 22 May 2026.JIM LO SCALZO/EPA/Shutterstock)

US Inflation Hits Three-Year High as Energy Prices Surge

The cost of goods in the United States is rising at its fastest pace in three years, with inflation driven mainly by soaring energy prices since the start of the war in Iran. Economists say the energy shock is feeding through into broader price pressures across the world’s largest economy. Meanwhile, Taiwan’s TSMC, a key player in the global AI boom and the centre of the US-China tech rivalry, has been speaking exclusively to the BBC about whether it can keep up with surging demand for advanced chips. And with just a day to go, large numbers of World Cup 2026 tickets are appearing on resale platforms. Presenter: Leanna Byrne Producer: David Cann

UK watchdog investigates mega takeover with Paramount and Warner Bros

The UK competition watchdog started the investigation into Paramount Skydance's $110bn takeover of Warner Bros Discovery. We ask the former CMA director how will it affect the deal? Also, why is Switzerland going to restrict the number of the population in the country? And we look into one of the most successful IPO - SpaceX.

China and North Korea: Strengthening Ties

Chinese President Xi Jinping has wrapped up a two-day visit to North Korea featuring military honours, public displays of friendship and talks with Kim Jong Un. While few concrete agreements emerged, the trip sends a clear signal that Beijing wants to strengthen its relationship with its isolated neighbour. Plus, Indonesia's central bank has unexpectedly raised interest rates in an effort to stabilise the rupiah after its sharpest decline in years. And the race to public markets is accelerating. Just days before SpaceX is expected to begin trading, OpenAI, the company behind ChatGPT, has confidentially filed for an initial public offering. We look at what could be one of the most significant listings in the technology sector for years. Presenter: Leanna Byrne Producer: David Cann

Another legal setback for Trump

A federal judge has overturned the $100,000 H 1B visa application fee ordered by President Donald Trump saying it's an unlawful tax. IATA, the airline industry's main body says it likely to miss its key emission target. And China's Xi Jinping is in North Korea. What's he after?