Key inflation gauge jumps to 3-year high in latest sign of affordability challenges

A customer readies to pump gas at this Ridgeland, Miss., Costco, Tuesday, May 24, 2022. s. (AP Photo/Rogelio V. Solis, File)2026-06-25T12:41:48Z 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…

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