{"id":17700,"date":"2026-06-25T13:01:29","date_gmt":"2026-06-25T13:01:29","guid":{"rendered":"https:\/\/siliconvalleymovingpost.com\/?p=17700"},"modified":"2026-06-25T13:01:29","modified_gmt":"2026-06-25T13:01:29","slug":"key-inflation-gauge-jumps-to-3-year-high-in-latest-sign-of-affordability-challenges","status":"publish","type":"post","link":"https:\/\/siliconvalleymovingpost.com\/?p=17700","title":{"rendered":"Key inflation gauge jumps to 3-year high in latest sign of affordability challenges"},"content":{"rendered":"<div>\n<p><strong>By CHRISTOPHER RUGABER, AP Economics Writer<\/strong><\/p>\n<p>WASHINGTON (AP) \u2014 The Federal Reserve\u2019s 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 Trump as midterm elections near.<\/p>\n<p>Read more <a href=\"https:\/\/siliconvalleymovingpost.com\/?p=17698\">Snap sued over rape of minor who connected to adult attacker on Snapchat<\/a><\/p>\n<p>The Commerce Department said Thursday that consumer prices rose 4.1% in May from a year earlier, the largest annual increase since April 2023. On a monthly basis, inflation was 0.4% last month, matching April\u2019s increase and down from 0.7% in March.<\/p>\n<p>The increase was largely driven by more expensive gas, as well as pricier semiconductors and other computer equipment that are in high demand for the AI buildout. Rising prices have caused the inflation-fighters at the Federal Reserve to keep their key rate unchanged this year, a reversal from January when they had penciled in two cuts. Some economists forecast the central bank could lift rates this year instead.<\/p>\n<p>New Fed chair Kevin Warsh last week underscored the central bank\u2019s determination to drive inflation back to its 2% target, but he gave no sign of what steps the Fed might take. Some economists, however, now expect the central bank to increase rates this year. Those expectations have helped drive down share prices this week.<\/p>\n<p>Read more <a href=\"https:\/\/siliconvalleymovingpost.com\/?p=17696\">Trump\u2019s showdown with Republican Sen. Cassidy: Inside the blow-up on Capitol Hill<\/a><\/p>\n<p>Oil and gas prices have fallen substantially since Trump agreed to a peace deal with Iran, but the conflict lifted gas prices to nearly $4.50 a gallon on average nationwide last month. They have since fallen back to $3.92 as of Thursday, according to AAA.<\/p>\n<p>Excluding the volatile energy and food categories, core prices rose 3.4% in May compared with a year earlier, up from 3.3% in April and the largest increase since October 2023. On a monthly basis, they rose 0.3% from April to May, the same as the previous month.<\/p>\n<p>Read more <a href=\"https:\/\/siliconvalleymovingpost.com\/?p=17694\">Senate Republicans reject war powers resolution after Trump berates them at Capitol meeting<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Fed\u2019s preferred inflation gauge rose to a 3-year high in May as gas prices peaked, a sign rising costs could pose problems for Trump.<\/p>\n","protected":false},"author":1,"featured_media":17699,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43,2],"tags":[],"class_list":["post-17700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-based-on-facts-either-observed-and-verified-directly-by-the-reporter-or-reported-and-verified-from-knowledgeable-sources","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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