Key inflation gauge jumps 6.8% in June as prices continue to surge

Key inflation gauge jumps 6.8% in June as prices continue to surge

An inflation gauge closely watched by the Federal Reserve jumped 6.8% in June from a year earlier, the biggest annual rise in four decades. Friday’s government figures underscore the persistence of inflation that is eroding Americans’ purchasing power, weakening their confidence in the economy and threatening Democrats in Congress in the run-up to November’s midterm …

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