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Inflation rises to a 3-year high on spiking gas prices, highlighting affordability challenges

WASHINGTON (AP) — Rising gas prices pushed inflation to its highest level in three years last month, a headache for the Federal Reserve and a potential political challenge for the Trump administration as midterm elections near. Consumer prices rose 4. 2% in May from a year earlier, the Labor Department said Wednesday, up from 3. 8% in April and the third straight increase. On a monthly basis, prices rose 0. 5% last month, after big gains of 0. 6% in April and 0. 9% in March. Inflation had in...

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