US inflation gauge hits three-year high (opens in new tab)

A key U.S. inflation gauge watched by the Federal Reserve rose in April to its highest level in three years, while U.S. consumer confidence fell, according to an AP business report carried by ABC News and local Fox affiliates. The report said grocery and gasoline purchases cost more than they did last year, putting pressure on household finances. The AP report said rising costs are affecting decisions by households and businesses and posing political challenges for President Trump. Google New...