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Surging gasoline and energy prices, as well as the cost of groceries, have pushed the forecast for the cost-of-living adjustment higher.
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Here's some of the places where prices are rising fast for consumers.
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S&P 500 retreats from record after high inflation reading, drop in tech stocks: Live updates CNBCWall St falls as hot CPI, Iran tensions weigh on sentiment Yahoo FinanceStock Market Today: Dow, Nasdaq Sink on Soaring Inflation — Live Updates WSJTech Rally Falters as Oil Rises on Iran Stalemate: Markets Wrap Bloomberg.com
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President Trump has declared the cease-fire on "life support," and investors are taking a cautious approach as the economic effects of the war become more apparent.
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Trump readies for Beijing summit with Xi as AI chip sales, farm goods top agenda Fox BusinessHow the Iran war could weaken Trump in his strongman showdown with Xi CNNTrump heads to China for state visit. And, how the war in Iran has affected inflation NPRTrump and Xi appear intent on keeping deep differences over Iran war from overshadowing China summit AP News
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