Key inflation gauge worsens, eroding Americans’ income and spending power (opens in new tab)

A motorist pumps fuel at a Shell station Wednesday, July 5, 2023, in Englewood, Colo. (AP Photo/David Zalubowski, File)2026-05-28T12:39:15Z WASHINGTON (AP) — A key inflation gauge accelerated in April to the highest level in three years, the latest sign that spiking gas prices and are squeezing Americans’ finances. Inflation jumped to 3.8% in April compared with a year ago, the Commerce Department said Thursday, up from 3.5% in March and the highest since May 2023. On a monthly basis, prices ...