'I love the inflation:' Trump says as CPI hits 3 year high
Soaring gas prices drove inflation to its highest level in three years in May. Consumer prices increased 4.2% last month compared to 2025, up from
Soaring gas prices drove inflation to its highest level in three years in May. Consumer prices increased 4.2% last month compared to 2025, up from 3.8% in April and the third consecutive spike. High inflation has changed the conversation among Fed policymakers, who indicated earlier this year that they were considering cutting their key interest rate twice more in 2026.
LiveNOW’s Mike Pache spoke about the latest inflation data with Harriet Torry from the Wall Street Journal. MORE DETAILS In May, gas prices spiked because of Iran's closure of the Strait of Hormuz. Many goods and services spiked in price in May. For instance, clothing prices rose 0.3% and are 4.8% more expensive than in 2025.
Airline fares spiked 2.7% in May and are almost 27% higher than in 2025. Electricity prices jumped 0.6% in May and are up 5.9% in the past year. Subscribe to LiveNOW from FOX! Where to watch LiveNOW from FO Raw and unfiltered. Watch a non-stop stream of breaking news, live events and stories across the nation.
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