Federal Reserve inflation gauge hits three-year high amid rising gas prices
The Federal Reserve's preferred inflation gauge rose to a three-year high of 4.1% in May, driven by surging gas prices. This increase signals potential political challenges for Donald Trump as the midterm elections approach. Inflation has remained above the Fed's 2% target for over five years, affecting consumer sentiment and spending patterns.
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Summary by OZbrief Editorial · The Guardian Australia – Business · Source
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Published 25 Jun 2026, 16:14 UTC · Updated 25 Jun 2026, 16:30 UTC
Summary by OZbrief Editorial. Original report: The Guardian Australia – Business. Editorial policy · Corrections
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