High gas prices pushed annual inflation to the highest level in three years, according to May data released by the Commerce Department on Thursday.

Inflation continued to rise in May, with the Personal Consumption Expenditures price index rising at an annual rate of 4.1%.

A closely watched inflation report is set to reveal how much price growth picked up in May — as many Americans remain mired in an affordability crunch.

Former St. Louis Fed President Jim Bullard, now Dean of the Mitch Daniels School of Business at Purdue University, believes the Federal Reserve is likely to resume tightening later this year despite a likely pause in July.

Inflation across the U.S. accelerated in May as the shock to global energy supplies from the Iran war continued to push prices higher. The Consumer Price Index rose at an annual rate of 4.2%, up from 3.

Inflation hit its highest level in three years last month, according to fresh data released this week — but new Federal Reserve Chair Kevin Warsh wants the central bank to focus on different measures.

The Federal Reserve’s new chairman has vowed to deliver price stability, but officials are at odds over whether that will require higher borrowing costs.

Here are four surprising ways inflation impacts the ultra-wealthy, and, more importantly, what that means for your money in 2026.

Healthcare spending will significantly outpace general CPI as the population ages and skilled workers are in shortage. Learn more.

Americans’ expectations for inflation over the near and medium term rose in June amid strong increases anticipated for medical care costs and rent, according to a Federal Reserve Bank of New York survey released Tuesday.