Associated Press June 27, 2026 • 14:10

America In Focus: key inflation gauge surges to 3-year high, mortgage rate climbs - AP News

By Michelle Chapman

America In Focus: key inflation gauge surges to 3-year high, mortgage rate climbs - AP News

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. Part of that pressure is…

The economy, inflation and how those forces could impact the lives of Americans were front and center over the past week. Trips to the grocery store or gas station are more painful than they were las… [+4335 chars]

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