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PBS NewsHour reports: WASHINGTON (AP) — High gas prices are intensifying inflation and vacuuming up more of Americans' dollars, yet consumers are still digging deep to spend, powering the economy, at least for now. A slew of economic data Thursday showed that inflation accelerated last month as more expensive oil and gas began to lift prices in other parts of the economy, including shipping and warehousing, before the increases reach most Americans. Wholesale food prices jumped, which could make groceries more expensive in the months ahead.
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PBS NewsHour reports: WASHINGTON (AP) — High gas prices are intensifying inflation and vacuuming up more of Americans' dollars, yet consumers are still digging deep to spend, powering the economy, at least for now. A slew of economic data Thursday showed that inflation accelerated last month as more expensive oil and gas began to lift prices in other parts of the economy, including shipping and warehousing, before the increases reach most Americans. Wholesale food prices jumped, which could make groceries more expensive in the months ahead.
