US Inflation Report to Provide Crucial Signs of Price Trends

The latest US inflation report is set to be released on Wednesday, and it will provide crucial signs of where prices are headed.

Since early last year, Americans have struggled with worsening inflation, which was exacerbated by tariffs that lifted the cost of imported goods. The situation worsened this spring when the Iran war pushed oil and gas costs higher, driving inflation to its highest level in three years.

The government's report will be closely watched by the Federal Reserve, as well as Republicans facing tough midterm elections and consumers struggling with high grocery prices.