Inflation Surges on Gas and Goods | Global News

Inflation’s back with a bang as prices surged 0.4% in August — the biggest jump since July — fueled by skyrocketing gas costs that climbed 3.9% alone. From appliances to car repairs and even cell phone plans, the ripple effect is hitting wallets hard ahead of elections. The Fed faces mounting pressure to raise rates again, as inflation shows no sign of cooling despite hopes for temporary spikes. Airfares jumped 2.7%, while global tensions keep fuel prices climbing — making everyday goods more expensive and signaling this could be a longer battle than expected.

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