Key Inflation Measure Surges at Fastest Rate Since June

An alarming sign that price pressures are entrenched in the American economy and could lead the Fed to keep raising interest rates well into this year.

AP/David Zalubowski
Gasoline prices outside a convenience store May 26, 2022, at Thornton, Colorado. AP/David Zalubowski

WASHINGTON — The Federal Reserve’s preferred inflation gauge rose last month at its fastest pace since June, an alarming sign that price pressures are entrenched in the American economy and could lead the Fed to keep raising interest rates well into this year.

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