Inflation Hits 3-Year High As Affordability Challenge For Americans Grows

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Inflation is now well above the Federal Reserve's 2% target, which it has surpassed for more than five years. WASHINGTON (AP) — Rising gas prices pushed inflation to its highest level in three years last month, a headache for the Federal Reserve and a potential political challenge for the Trump administration as midterm elections near. Consumer prices rose 4.2% in May from a year earlier, the Labor Department said Wednesday, up from 3.8% in April and the third straight monthly increase. On a

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