Inflation is spreading through the U.S. economy beyond the pump
Fresh inflation data now suggests the challenge may be deeper and longer-lasting than many expected.
Americans don’t need a press release to know that inflation is rising. Gasoline is above $4 per gallon amid the ongoing conflict in the Middle East and closure of the Strait of Hormuz, and the release of key price data on May 28 underscores why policymakers are worried these pressures could spread into the broader economy.
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