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Key inflation gauge jumps to 3-year high in latest sign of affordability challenges
The Federal Reserve's preferred inflation gauge rose to a three-year high in May, driven by higher gas prices and AI-related computer equipment costs. Core prices increased 3.4% annually, the largest rise since October 2023, while the Fed has kept rates unchanged this year amid concerns about underlying inflation.
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- Key inflation gauge jumps to 3-year high in latest sign of affordability challenges
- Key inflation gauge jumps to 3-year high in latest sign of affordability challenges
- Key inflation gauge jumps to 3-year high in latest sign of affordability challenges
- Fed’s preferred inflation gauge jumps to 3-year high in latest sign of affordability challenge
- Inflation rises to a 3-year high on spiking gas prices, highlighting affordability challenges