President Donald Trump on Wednesday accused Iran of dragging out negotiations with Washington and warned that Tehran would “pay the price” for delaying a deal that he earlier signaled was nearing a breakthrough.

Rising energy prices from the three-month-old war in Iran lifted inflation in May to its highest level in three years. The U.S. annual inflation rate surged to 4.2 percent last month, from 3.8 percent in April, according to new Bureau of Labor Statistics data released on June 10.