Key Inflation Gauge Jumps To 3-Year High In Latest Sign Of Affordability Challenges
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The increase was largely driven by more expensive gas, as well as pricier semiconductors and other computer equipment that are in high demand for the AI buildout. WASHINGTON (AP) — The Federal Reserve’s preferred inflation gauge rose to a new three-year high in May as gas prices peaked, a sign rising costs could pose political problems for President Donald Trump and his political party as midterm elections near. Consumer prices rose 4.1% in May from a year earlier, the Commerce Department said
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