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

The Federal Reserve’s 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…

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

US inflation surged past 4.0% in May, driven by Middle East conflict-fueled energy prices, marking the highest increase in three years. This development pushes the Federal Reserve…