Inflation reaches nearly 3-year high on energy costs
Inflation increased for the second consecutive month according to the Fed's preferred gauge. The rise was driven by higher gas prices linked to geopolitical events.
Topic cluster
accelerating
1 source grouped by AFBytes in Economy
AFBytes briefing
Higher inflation directly raises household costs for energy, food, and other essentials while pressuring wages and interest rates on mortgages.
What to watch next
- Monitor the next CPI release and FOMC statement for signals on rate path adjustments.