U.S. inflation accelerated last month as gas prices spiked in the wake of renewed fighting in the Middle East, underscoring the affordability challenges that are top of mind for many voters as midterm elections near.

U.S. inflation accelerated last month as gas prices spiked in the wake of renewed fighting in the Middle East, underscoring the affordability chall...

US inflation held at 3.4% in August from a year earlier, while monthly consumer prices accelerated 0.4% as renewed Middle East fighting pushed up gasoline costs. Core inflation…